OGDC Discovers More Oil in Sindh

Oil & Gas Development Company Limited (PSX: OGDC) has announced a new oil discovery at the Chakar-1 exploratory well in Tando Allah Yar district, Sindh. The discovery was made under the Tando Allah Yar Exploration License (TAY E.L), where OGDCL holds a 95 percent operating interest, with Government Holdings (Private) Limited (GHPL) as a 5 percent carried-interest partner. According to the stock filing, drilling at Chakar-1 began on June 2, 2025, and reached a total depth of 1,926 meters into the Upper Shale of the Lower Goru Formation. Based on wireline log interpretation and Reservoir Evaluation Services (RES) data, a Drill Stem Test (DST) was conducted in the B-Sand formation, followed by testing using an Electrical Submersible Pump (ESP). The well flowed at a rate of 275 barrels of oil per day (BOPD) through a 32/64-inch choke at a wellhead flowing pressure of 400 psi. Additionally, oil was encountered during RES formation testing in the Lower Ranikot Formation, where a second DST with ESP is currently underway to evaluate its hydrocarbon potential.