KARACHI: The Oil and Gas Development Company Ltd (OGDCL) has announced a small oil and gas discovery in its joint venture partners in Sindh on Tuesday.
According to a statement issued by the Oil and Gas Development Company Ltd (OGDCL) today, “In the preliminary testing, there is 1.146 MMSCFD of gas and 680 (BPD) of condensate from the well, which was drilled down to the depth of 2,442 meters”.
The company further said, “Based on the logs data, the well was tested at a rate of 1.146 Million Standard Cubic Feet per Day (MMSCFD) of gas and 680 barrels per day (BPD) of condensate through 32/64″ choke at Well Head Flowing Pressure of 460 Pounds per Square Inch (Psi) from Lower Goru Formation.”
The discovery of Sial Well-1 was the result of an aggressive exploration strategy adopted by the company, which had opened a new avenue and would add to the hydrocarbon reserves base of OGDCL, its joint venture partners, it added.
The company hoped that it will also contribute to diminishing the supply and demand gap of oil and gas in the country through the exploration & exploitation of indigenous resources.
The OGDCL, which is also listed on the London Stock Exchange, has ramped up investment in an effort to reduce the country’s dependence on imported fuel.
Earlier, PM Imran Khan had acknowledged the commitment of OGDCL and gave an appreciation certificate to the Managing Director/CEO of the company.
“These discoveries are great news for Pakistan, as not only it will help the country’s economic conditions by adding a great deal to the hydrocarbon reserves base but also resolving the energy crisis of the nation,” he said.
