OGDCL reports 2% decrease in profits

OGDCL discovers gas at Kharo-1 well, near Khairpur

The Oil and Gas Development Company Limited (OGDCL) has reported a major gas condensate
recovery at the Kharo-1 well in the Khewari exploration license area, situated in District
Khairpur, Sindh province. OGDCL operates the Khewari Block, holding a 95 percent working
interest, with Government Holding Private Limited (GHPL) as a joint venture partner with a 5.0
percent working interest. Drilling and testing operations for the Kharo-1 well, utilizing OGDCL’s
expertise, reached a depth of 3,762 meters. Testing recorded a gas flow of 14.3 million standard
cubic feet per day (mmscfd) and 93 barrels per day (bbls/d) of condensate. These results were
achieved from the massive sand strata of the Lower Goru Formation at a 32/64-inch choke size,
with a wellhead flowing pressure (WHFP) of 2,737 pounds per square inch (psi). OGDCL stated
that the Kharo-1 discovery highlights the Company’s diligent exploration approach. It has the
potential to significantly increase OGDCL’s hydrocarbon reserves and those of its joint venture
partners, ultimately contributing to the nation’s energy resources.