KARACHI: A joint venture of Oil & Gas Development Company Limited (OGDCL) and the Government Holdings (Private) Limited (GHPL) has discovered oil and gas from an exploratory well in District Tando Allah Yar, Sindh Province.
OGDCL, the operators, in a statement to Pakistan Stock Exchange said Nim East-1 was spudded in on March 21, 2022 as an exploratory well by using OGDCL's in-house expertise and in close collaboration with the GHPL team. The well was drilled down to 2,573 meters.
“Based on the results of wireline logs interpretation, drill stem Test-1 in the Basal Sand has tested 1,400 barrels of oil per day and 5.02 million standard cubic feet per day gas through choke size 32/64 at Well Head Flowing Pressure of 1820 Pounds per Square Inch.”
The discovery is the 11th in Nim Block which shows the commitment of Nim Joint Venture Partners to exploit the hydrocarbon potential of the block besides reflection of aggressive exploration strategy.
Discovery will help in mitigating energy demand and supply gap from indigenous resources and will add to the hydrocarbon reserves base of joint venture entities and the country, it added.
KARACHI: Headline inflation is expected to fall below 0.5 per cent in April, continuing a disinflationary trend that...
WASHINGTON: Hundreds of global finance leaders will descend on Washington this week, each with a singular mission: Who...
KARACHI: The Institution of Banking Mohtasib Pakistan (BMP) on Monday said it witnessed a significant rise in...
KARACHI: President of the Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has expressed serious...
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday hosted a high-profile trade...
KARACHI: Gold prices soared by Rs8,100 per tola in the local market on Monday, reaching yet another all-time high amid...
PESHAWAR: The Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI) has welcomed the first official visit of...
KARACHI: The Pakistan Stock Exchange (PSX) started the week with bullish momentum, continuing the positive streak for...