OGDCL Just Discovered Condensate 'Oil & Gas' In Sindh And This Is Great For Pakistan's Struggling Economy!

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OGDCL Just Discovered Condensate ‘Oil & Gas’ In Sindh And This Is Great For Pakistan’s Struggling Economy!

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OGDCL has discovered condensate oil and gas from Mangrio-1 an exploratory-cum-appraisal well in Nim Block located in district Tando Muhammad Khan, Sindh.

Source: parliament.uk

The OGDCL has 95% of share in the block and is the operator with  5 percent shareholding of Government Holding Private Limited (GHPL). The Mangrio-1’s structure was delineated drilled and tested using OGDCL’s in house expertise. The well was drilled down to the depth of 2,676 meters.

The well has tested 10.44 MMSCFD gas, 120 BPD condensate through choke size 32/64” at Wellhead Flowing Pressure 2085 Psi from Lower Gru B-Sand. The company adopted an aggressive exploration strategy that resulted in Mangrio Well # 01.

The OGDCL is the only public sector company that is registered in the London Stock Exchange. The OGDCL indigenously produces 45 percent of oil, 29 percent of gas and 40 percent of LPG in the overall production of the country. Prime Minister Imran Khan, while acknowledging the OGDCL’s commitment towards the national building, had given appreciation certificate to Managing Director/CEO OGDCL Zahid Mir.

Source: investorslounge.com

The letter was written to London Stock Exchange by OGDLC’s company secretary Ahmed Hayat Lak. It said:

Dear Sir,

  1. The joint venture of Nim block comprising Oil and Gas Development Company Limited (OGDCL) as operator (95%) and Government Holding Private Limited (GHPL) (5% carried) has discovered gas and condensate from its exploratory cum appraisal Well, Mangrio #01, which is located in district Tando Muhammad Khan, Sindh Province.

 2. The structure of Mangrio Well #01 was drilled and tested using OGDCL’s in house expertise. The well was drilled down to the depth of 2676 Meters. The well has tested 10.44 MMSCFD gas, 120 BPD condensate through choke size 32/64″ at Wellhead flowing pressure 2085 Psi from lower Guru B-Sand.

Source: facebook

 3. The discovery of Mangrio Well # 01, is the result of an aggressive exploration strategy adopted by the company. It has opened a new avenue and would add to the hydrocarbon reserves base of the OGDCL and of the country.

 4. The above information is submitted in compliance with the Code of Corporate Governance for dissemination amongst your members, please.”

This discovery has opened new avenues and would add a great deal to the hydrocarbon reserves base of the country. Hopefully, with this information and new resource at hand, some of our energy crisis will be resolved in the coming years.

 

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