The Oil and Gas Development Company Limited has discovered oil in its exploratory well at Pasakhi North East, located in District Hyderabad, Sindh. An estimated 1800 barrel per day oil is expected from the exploratory well No 1 in Pasakhi D&PL in Lower Guru Formation.
The company's statement sent to Karachi Stock Exchange here on Friday says that the Pasakhi North East Well No 1 was spudded on March 5 this year and was drilled down to the depth of 4486 metres (MD)/4150 metres (TVD). The well has been plugged at 3530 metres and the lower Guru formation has been tested.
The post-completion results of the well are tabulated as N/T combination 12-B with gross quantity of 2000 barrel per day (BPD), while the oil quantity is estimated at 1800 barrel oil per day (BOPD), with water quantity of 200 barrel water per day (BWPD) at API 41.20 degree. The company would convey further information with respect to reserves, addition and sustainable production potential to all concerned as it becomes available.