OGDCL Discovers Significant Gas Reserves in Sindh

Oil & Gas Development Company Limited (PSX: OGDC) Thursday announced a gas/condensate discovery from the exploratory well Faakir-1, located within Bitrisim Exploration License in District Khairpur, Sindh Province. In a notice to the Pakistan Stock Exchange (PSX), the firm said that the well is operated by Oil & Gas Development Company Limited (OGDCL), holding a 95 percent working interest, in joint venture with Government Holdings (Private) Limited (GHPL), which holds the remaining 5 percent interest. Faakir-1 was spudded on December 31, 2024, as an exploratory well and drilled to a total depth of 4,185 meters in the Sembar Formation. The well was drilled using OGDCL’s in-house expertise in close collaboration with the Joint Venture Partner. The statement said that based on the interpretation of wireline log results, two Drill Stem Tests (DSTs) were carried out in the Lower Goru Formation, targeting the Massive Sand and Basal Sand intervals. The cumulative test results indicated a production of 6.4 million standard cubic feet of gas per day (MMSCFD) and 55 barrels per day (BPD) of condensate through a 32/64″ choke. The wellhead flowing pressures recorded were 450 psi for DST-1 and 850 psi for DST-2, respectively. OGDC said the discovery marks a significant breakthrough in the Bitrisim Exploration License from Lower Goru Formation (Basal and Massive Sands), thereby enhancing the commercial perspectivity and extending the life of the license. It reflects the Joint Venture’s commitment to pursuing the full hydrocarbon potential of the block through an aggressive exploration strategy. This discovery is expected to contribute meaningfully toward reducing the energy demand-supply gap through indigenous resources and will also add to the hydrocarbon reserves base of both OGDCL and the country, it added.