Oil & Gas Development Company Limited (OGDCL), along with its partner Government Holdings (Private) Limited (GHPL), has successfully discovered natural gas and condensate reserves at an exploratory well named Faakir-1, located in Khairpur district, Sindh.
OGDCL, one of Pakistan’s largest E&P companies, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
“We are pleased to announce a gas and condensate discovery from the exploratory well Faakir-1, located within Bitrisim Exploration Licence in Khairpur district, Sindh,” read the notice.
The well is operated by OGDCL, holding a 95% working interest, in joint venture with GHPL, which holds the remaining 5% 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,” stated OGDCL.
The listed company shared 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,” it shared.
The company was of the view that the said discovery marks a significant breakthrough in the Bitrisim Exploration Licence from Lower Goru Formation, thereby enhancing the commercial prospectivity and extending the life of the licence.
“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. Last year, OGDCL discovered natural gas reserves at Shahu-1 well located in the district of Khairpur, Sindh.