KARACHI: The Oil and Gas Development Company (OGDCL) has discovered gas and condensate in Sindh, the country’s biggest oil and gas exploration and production company stated in a filing with the stock exchange on Monday. Secretary OGDCL Ahmed Hayat Lak stated in the notice that the joint venture of Nim Block comprising (OGDCL) as operator with 95 percent interest and Government Holdings (Pvt.) Limited with 5 percent has discovered gas & condensate from its exploratory well Chhutto 1, which is located in District Hyderabad, Sindh Province. He further informed that the structure of Chhutto-1 was delineated and tested using OGDCL’s in house expertise. The well was drilled down to the depth of 3820 Meters. “The well has tested 8.66 MMSCFD of gas and 285 BPD of condensate through 32/64” choke at well head flowing pressure of 2100 Psi from “A” sands of Lower Goru formation”. According to Lak, the discovery of Chhutto Well 01 has opened a new avenue and would add to the hydrocarbon reserve base of OGDCL and the Country. OGDCL, being the largest upstream player in Pakistan, enjoys the largest share of exploration acreage in the country, which stands at 33 percent of the total awarded acreage. As of June 2016, OGDCL held 61 percent of the country’s recoverable oil reserves and 36 percent of the country’s recoverable gas reserves. In terms of production, currently OGDCL delivers 28% of Pakistan’s gas output and 52 percent of its oil output. OGDCL’s remaining 2P recoverable reserves estimates, as at December 31, 2016, stood at an impressive 907 MMBOE. During the fiscal year from July 2016 to December 2016, OGDCL reported average daily net crude oil, gas and LPG production of 42,880 barrels, 1,048 MMcf and 378 MT, respectively. During the period under review, OGDCL spud seven (7) wells including three (3) exploratory/appraisal wells and four (4) development wells.