The Oil & Gas Development Company Limited (OGDCL) has discovered new oil and gas reserves in Sindh and apprised the Pakistan Stock Exchange (PSX) regarding the discovery in the Sanghar district, ARY News reported on Monday.
The OGDCL started the exploration of the oil and gas reserves on June 26 this year.
In its letter to the PSX, the company stated that it discovered oil and gas from a development cum exploratory well namely Chak-5 Dim South-3 which is located in the Sanghar district of Sindh.
READ: GAS, OIL RESERVES FOUND IN BANNU WEST BLOCK
“The well was drilled down to 3400 m. Based on the results of wireline logs interpretation, Drill Stern Test-1 in the Massive Sand has tested 2000 Barrels of Oil per Day (BOPD) & 1.30 Million Standard Cubic Feet per Day (MMSCFD) Gas through choke size 32/64″ at Well Head Flowing Pressure (WHFP) of 994 Pounds per Square Inch (Psi). 3. The said discovery shows aggressive exploration strategy of OGDCL,” it read.
The discovery has opened a new avenue and will positively contribute to mitigating energy demand and supply gap from indigenous resources and will add to the hydrocarbon reserves base of OGDCL and the country, said the company.
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