Oil & Gas Development Company Limited (OGDCL), one of Pakistan’s leading exploration and production state-owned companies, has discovered gas and condensate at Dars West Well # 02, located in Tando Allahyar District, Sindh.
The development was shared by the company in its notice to the Pakistan Stock Exchange (PSX) on Friday.
“The joint venture of Dars West Development and Production Lease (D&PL) comprising OGDCL as operator (77.5 %) and Government Holdings (Private) Limited (GHPL) (22.5 % carried) has discovered gas and condensate from its exploratory efforts into “C” Sands of lower goru formation over development well Dars West # 02, located in district Tando Allah Yar, Sindh,” read the notice.
OGDCL shared that the structure of Dars West Well # 02 was drilled and tested using its in-house expertise.
“The well was drilled down to a depth of 2,081 meters. The well has tested 8.51 million standard cubic feet per day (mmscfd) gas, 360 barrels per day (bpd) condensate through choke size 32/64” at Well Head Flowing Pressure 1947 pounds per square inch (PSI) from Lower Guru C-Sand (Exploratory Zone),“ added the notice.
The company shared that the discovery of Dars West Well # 02 is the result of its aggressive exploration strategy.
“It would add to the hydrocarbon reserves base of the OGDCL, joint venture partners and of the country,” OGDCL said.
Last month, OGDCL completed the Khewari Project in Sindh, with a potential gas production of 10 mmscfd.
The company back then shared that at present, 7 mmscfd of gas was being processed at the Sinjhoro Plant in the Sanghar District, Sindh, and will be ramped up to its full potential.
As per the company’s latest financial results, OGDCL registered net sales of Rs 120.141 billion during 1QFY24 which ended 30th September 2023. The company’s Profit before Taxation during the period was Rs 86.174 billion.
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