OGDCL finds gas in Pakistan

Sep 16, 2015 12:00 AM

Pakistani upstream player, Oil and Gas Development Co. Ltd. (OGDCL) discovered new hydrocarbon from the exploratory well Aradin-I in the Khewari exploratory license in Khairpur, Sindh.

The well was drilled to 4270m targeting to test the potential of the Lower Goru Massive Sand formation, delivering 5.10 MMcf/d of gas.

This discovery, OGDCL said, will add to the hydrocarbon reserves base of the company and joint venture partners, bringing significant savings to the country.

Last month, the group made oil discovery in the Chak Naurang South-1 exploration well located in Chakwal in Punjab.

The well was drilled to 3220m targeting the Eocene reservoir of the sub thrust sheet to test potential of the lower Sakessar formation, which produced 180 b/d of crude oil.

During FY 2015 the group drilled 25 wells, comprising of 14 exploratory and 11 development wells. The group also made four new oil and gas discoveries in Soghri-1 and Jand-1, both in Attock, Punjab, and Jarwar-1 and Palli Deep-1 in Tando Allah Yar, Sindh.

OGDCL’s net sales for the period was Rs 210.625 billion compared to Rs 257.014 billion last year. Net profit before taxation was Rs 127,025 billion, while last year saw Rs 172.350 billion.

While net crude oil production was 40,818 b/d, gas production was 1143 MMcf/d. In addition, 5430km of 2D and 1918sq km of 3D seismic acquisition was also completed, the company said in a statement.

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