Karachi, March 4, 2026 – The Oil and Gas Development Company Limited (OGDCL) has announced a significant oil and gas discovery in Pakistan’s Khyber Pakhtunkhwa (KP) province, marking a major boost for the country’s indigenous energy resources.
According to a disclosure submitted to the Pakistan Stock Exchange (PSX), the discovery was made at the Baragzai X-01 (Slant) well over the Lockhart Limestone formation in the Nashpa Block, District Kohat, KP.
Joint Venture and Working Interests
The Nashpa Exploration License is operated by OGDCL with a 65% working interest, alongside its joint venture partners:
• Pakistan Petroleum Limited (PPL) – 30%
• Government Holdings (Private) Limited (GHPL) – 5% carried interest
Production and Test Results
During the cased-hole Drill Stem Test (DST-05) in Lockhart Limestone, the Baragzai X-01 well recorded:
• Oil flow: 3,765 barrels per day (BOPD)
• Gas flow: 11.2 million standard cubic feet per day (MMSCFD)
• Choke size: 32/64″
• Wellhead flowing pressure: 4,080 psig
The exploratory well, spud-in on December 30, 2024, was drilled to a total depth of 5,170 meters, targeting multiple formations including Lockhart, Hangu, Lumshiwal, Samana Suk, Shinawari, Datta, and Kingriali. Previous drill stem tests in Kingriali, Datta, Samana Suk + Shinawari, and Hangu + Lumshiwal formations had also resulted in oil and gas discoveries.
Significance of Discovery
This discovery is expected to:
• Strengthen Pakistan’s indigenous hydrocarbon production
• Contribute to closing the energy supply-demand gap
• Enhance the reserves base of OGDCL, its joint venture partners, and the country
The announcement was made in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, ensuring transparency and dissemination to shareholders and market participants.
This latest achievement highlights OGDCL’s continued exploration success in Khyber Pakhtunkhwa, reinforcing Pakistan’s position in expanding domestic energy production.