OGDCL Announces Oil Discovery at Chakar-1 Well in Sindh

Strategic Insights -

OGDCL, along with its joint venture partner GHPL, has made an oil discovery at the exploratory well Chakar-1 in District Tando Allah Yar, Sindh. The company announced the discovery in a notice to the Pakistan Stock Exchange (PSX), stating that the well was drilled to a total depth of 1,926 meters into the Upper Shale of the Lower Goru Formation. The discovery is significant, as it marks the 13th oil discovery in the Tando Allah Yar Exploration License.

Key Takeaways:

  • The oil discovery was made at the Chakar-1 well, which was drilled to a total depth of 1,926 meters into the Upper Shale of the Lower Goru Formation.
  • The well flowed 275 barrels of oil per day (BOPD) through a 32/64'' choke at a wellhead flowing pressure (WHFP) of 400 psi.
  • OGDCL and its partner GHPL are conducting a second Drill Stem Test (DST)/Electrical Submersible Pump (ESP) to further assess the hydrocarbon potential of the well.
  • The discovery marks the 13th oil finding in the Tando Allah Yar Exploration License and reflects the joint venture's efforts to unlock the hydrocarbon potential of the block.
  • The results reinforce confidence in the geological prospectivity of the area and support ongoing exploration and appraisal efforts.
  • OGDCL has also discovered natural gas and condensate reserves at the Faakir-1 well in Khairpur district, Sindh, and natural gas reserves at the Shahu-1 well in the same district last year.

Statistics:

  • 275 barrels of oil per day (BOPD) flowed from the Chakar-1 well.
  • The wellhead flowing pressure (WHFP) was 400 psi.
  • 1,926 meters was the total depth drilled into the Upper Shale of the Lower Goru Formation.
  • 13 oil discoveries have been made in the Tando Allah Yar Exploration License.
  • OGDCL has made two major discoveries in Sindh in recent months, including the discovery of natural gas and condensate reserves at the Faakir-1 well.

Sources:

  • OGDCL notice to the Pakistan Stock Exchange (PSX)
  • Government Holdings (Private) Limited (GHPL) as referenced in the OGDCL notice
  • June 12 announcement of the Faakir-1 well discovery
  • Announcement of the Shahu-1 well discovery last year.