ISLAMABAD, Dec. 9 (Xinhua) -- The Oil & Gas Development Company Limited (OGDCL) of Pakistan has announced that it has discovered gas and condensate reserves in the country's southern Sindh province.
In a letter to the Pakistan Stock Exchange (PSX), the leading state-owned company of Pakistan said on Friday that the discovery was made at the West Well No. 2 in the Tando Allahyar district of the province.
"The well was drilled down to a depth of 2,081 meters. The well has tested 8.51 million standard cubic feet per day (mmscfd) gas, 360 barrels per day (bpd) condensate through choke size 32/64 at the WellHead Flowing Pressure 1,947 pounds per square inch from Lower Guru C-Sand (Exploratory Zone)," added the letter.
The well is part of the joint venture named Dars West Development and Production Lease (D&PL), which includes the OGDCL as an operator with 77.5 percent shares and the Government Holdings with 22.5 percent shares, according to the document.
The company said that the discovery is the result of its aggressive exploration strategy and that it would add to the hydrocarbon reserves base of the OGDCL and the country.
According to the company's latest financial results, the OGDCL registered net sales of 120.141 billion rupees (422.21 million U.S. dollars) with a profit of 86.174 billion rupees (302.84 million dollars) during three months from July to September 2023.
