ISLAMABAD (HRNW): In a significant boost to Pakistan’s energy sector, the Oil and Gas Development Company Limited (OGDCL) has announced a fresh discovery of oil and gas reserves at the Bargzai-X1 exploratory well in the Nashpa Block, District Kohat. The state-owned company shared the details of this success in a formal letter to the Pakistan Stock Exchange (PSX) today.
The discovery at the Bargzai-X1 well is expected to yield approximately 3,765 barrels of crude oil per day. Additionally, the new find will contribute 11.2 million cubic feet (mmscfd) of gas daily to the national grid. The successful discovery followed a rigorous exploration process, which involved drilling to a total depth of 5,170 meters. This achievement not only enhances the production capacity of the Nashpa Block but also opens up further possibilities for exploration in the surrounding areas.
OGDCL serves as the operator of the Nashpa Block with a majority 65% working interest. The project is a joint venture with Pakistan Petroleum Limited (PPL), which holds a 30% stake, and Government Holdings (Private) Limited (GHPL), which maintains a 5% interest. This discovery is viewed as a vital step toward mitigating Pakistan’s energy supply-demand gap through the utilization of indigenous resources, thereby reducing reliance on expensive fuel imports.
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