Oil & Gas Development Company Limited (PSX: OGDC) has announced a major gas discovery at the Shahu-1 well in the Sawan South Block, located in the Khairpur district of Sindh Province. This milestone was confirmed in a notice filed with the Pakistan Stock Exchange (PSX).

The gas discovery was made from the lower Goru B Reservoir Sand, a promising development for Pakistan’s energy sector. “We are pleased to announce the gas discovery from the Sawan South Block lower Goru B Reservoir Sand of the Shahu-1 well,” the company stated.

The Shahu-1 well is part of a Joint Venture involving OGDC, which holds a 20% working interest, along with United Energy Pakistan Limited (UEPL), the operator with 75% interest, Government Holding Private Limited (GHPL) with 2.5%, and Sindh Energy Holding Limited (SEHL) also holding 2.5%.

The drilling of the well began on August 18, 2024, and reached a depth of 12,675 feet. The well is expected to produce gas at a rate of approximately 10 Million Standard Cubic Feet per Day (MMSCFD) at a Wellhead Flowing Pressure (WHFP) of 4100 Pounds per Square Inch (Psig).

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This gas discovery not only boosts prospects for further exploration in the Sawan South Block but also contributes to Pakistan’s energy security by tapping into indigenous resources and adding to the country’s hydrocarbon reserves.

The success at Shahu-1 is seen as a significant step forward in strengthening Pakistan’s energy landscape and mitigating reliance on imported energy.

ALI

ALI

Experienced Senior Research Analyst

SIKANDER RAZA

SIKANDER RAZA

Sikander Raza, a Senior Technical Analyst

HAMZA SALEEM

HAMZA SALEEM

Hamza Saleem, a Senior Business Analyst

IRSA

IRSA

Irsa Sajjad, as a Research Analyst for Equities

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