Karachi: Oil and Gas Development Company Limited (OGDCL), one of Pakistan’s largest exploration and production companies, has reported a significant oil and gas discovery at the Baragzai X-01 (Slant) exploratory well in Kohat District, Khyber Pakhtunkhwa. The announcement was made through a notice to the Pakistan Stock Exchange on Tuesday.
OGDCL, operator of the Nashpa Exploration License with a 65% working interest, conducted the exploration in partnership with Pakistan Petroleum Limited (PPL) – 30%, and Government Holdings (Private) Limited (GHPL) – 5% carried interest. The well has yielded 3,100 barrels of oil per day (BOPD) and 8.15 million standard cubic feet per day (MMSCFD) of gas, tested through a 32/64″ choke at a wellhead flowing pressure of 3,010 psig.
The Baragzai X-01 well, spud-in on December 30, 2024, was drilled to a total depth of 5,170 meters, targeting multiple formations including Samana Suk, Shinawari, Kingriali, and Datta. Earlier tests in Kingriali and Datta formations had already indicated oil and gas potential.
Industry analysts project that this discovery could contribute approximately Rs1.50 per share to OGDCL earnings and Rs1.10 per share to PPL, adding to existing production at Baragzai X-01, which currently totals 9,480 BOPD of oil and 24.25 MMSCFD of gas.
OGDCL stated that the latest discovery will strengthen the company’s and joint venture partners’ hydrocarbon reserves and help mitigate Pakistan’s energy supply–demand gap through indigenous resources.
The development comes shortly after PPL announced a gas discovery from its Bilitang-1 exploratory well in Kohat, highlighting the region’s growing potential for hydrocarbon exploration.
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