The Oil and Gas Development Company Limited (OGDCL), one of the country’s largest oil and gas exploratory companies on Friday informed that it has discovered hydrocarbon reserves at its exploratory well located in Balochistan province.

“The Oil and Gas Development Company Limited (OGDCL) as the operator (100pc) of Lakhirud Exploration Licence has discovered gas from its exploratory well Lakhirud X-1 which is located in district Musa Khel, Balochistan province,” stated the company in its filing to the bourse.

The company informed that the structure of Lakhirud X-1 was drilled and tested using OGDCL’s in house expertise. The well was drilled down to a depth of 3000 metres. “Based on logs data, the well was stats tested at a rate of 2.5 Million Standard Cubic Feet per Day (MMCFD) of gas and 18 Barrels Per Day (BPD) of water through 32/64 inches at Well Head Flowing Pressure of 600 Pounds per Square Inch (psi) from Mughal Kot Formation,” the statement reads.

The discovery of Lakhirud X-1 has opened a new avenue and would add to the hydrocarbon reserve base of OGDCL, added the company.

Back in August, ODGCL, Mari Petroleum Company Limited, and Saif Energy Limited has made a gas and condensate discovery from its exploratory efforts at Togh Bala Well No. 01.

According to preliminary results, OGDCL has obtained 9 MMSCFD gas and 125 Barrels Per Day (BPD) of condensate from Togh Bala Well No. 01, while OGDCL has discovered oil and gas in Kohat Block, Khyber Pakhtunkhwa.