Karachi – Oil and Gas Development Company Limited (OGDCL) has confirmed a major oil and gas discovery in Khyber Pakhtunkhwa, reinforcing Pakistan’s domestic energy capabilities and contributing to the country’s long-term energy security.
The discovery was made at the Baragzai X-01 (Slant) well in District Kohat, part of the Nashpa Exploration License where OGDCL holds a 65% working interest. Pakistan Petroleum Limited (PPL) participates with 30%, while Government Holdings (Private) Limited (GHPL) holds the remaining 5%. According to OGDCL’s notice submitted to the Pakistan Stock Exchange (PSX), hydrocarbons were discovered in the Samana Suk and Shinawari formations.
During the Cased Hole Drill Stem Test (CHDST-03), the well produced 3,100 barrels of oil per day (BOPD) and 8.15 million standard cubic feet per day (MMSCFD) of natural gas through a 32/64″ choke at a wellhead flowing pressure of 3,010 psig. This performance highlights the well’s commercial potential and strategic importance to the country’s energy landscape.
The Baragzai X-01 (Slant) well was spud-in on December 30, 2024, targeting multiple formations including Lockhart, Hangu, Lumshiwal, Samana Suk, Shinawari, Datta, and Kingriali. The total depth of the well reached 5,170 meters, with earlier drill stem tests in Kingriali and Datta formations also resulting in successful oil and gas recoveries.
This latest discovery is expected to enhance OGDCL’s hydrocarbon reserves, providing benefits to its joint venture partners and contributing to Pakistan’s broader energy security objectives. By bridging the gap between domestic supply and demand, the development also supports the country’s economic growth and reduces reliance on imported hydrocarbons.
OGDCL’s spokesperson highlighted that the discovery represents a key milestone in the company’s ongoing exploration program, reinforcing its position as a leading contributor to Pakistan’s energy sector. The company emphasized its commitment to applying advanced exploration and drilling techniques to maximize recovery and efficiency.
The announcement has been made in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations, ensuring transparency and timely dissemination to investors and stakeholders. Market observers anticipate that this development will positively impact investor sentiment in the energy sector and further strengthen OGDCL’s strategic profile.
With Pakistan continuing to focus on energy self-sufficiency, discoveries such as Baragzai X-01 underline the importance of domestic exploration. OGDCL’s success demonstrates the value of coordinated efforts between state-owned enterprises and private sector partners, highlighting the potential for future discoveries in the country’s prolific hydrocarbon basins.
The company plans to conduct further assessments and development activities to optimize production from the well, aligning with national priorities and supporting the growth of the domestic energy industry. This milestone signals a promising trajectory for Pakistan’s exploration sector and strengthens confidence in the country’s long-term energy security framework.
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