PAKISTAN
Oil & Gas Development Company Limited (OGDCL), as the operator of the Tando Allah Yar (TAY) Exploration License with a 95% working interest, in partnership with Government Holdings (Private) Limited (GHPL), which holds a 5% carried interest, has notified the Pakistan Stock Exchange (PSX) of a new oil discovery at its Chakar–1 exploratory well located in District Tando Allah Yar, Sindh.
According to the notice submitted under Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations, the Chakar–1 well was spudded on June 2, 2025, and drilled to a total depth of 1,926 meters into the Upper Shale of the Lower Goru Formation. Based on wireline logs and Reservoir Evaluation Services (RES), a Drill Stem Test (DST) was conducted in the B-Sand. The well produced 275 barrels of oil per day (BOPD) using an Electrical Submersible Pump (ESP), through a 32/64″ choke at a wellhead flowing pressure of 400 psi.
Furthermore, oil was also encountered in the Lower Ranikot formation during formation testing. A second DST/ESP is currently in progress to assess the full hydrocarbon potential of this zone.
This marks the 13th discovery under the TAY Exploration License and reflects the joint venture’s sustained efforts to explore and develop the region’s hydrocarbon potential. The positive results reinforce geological confidence in the area and support the continuation of exploration and appraisal activities.
The company formally submitted this information to the PSX for dissemination among its members and stakeholders.
ER News Desk
