OGDCL Announces Oil and Gas Discovery at Baragzai X-01 Well in KP, Receives Rs 8.3 Bn From Uch Power -

PAKISTAN – Exploration

Oil and Gas Development Company Limited (OGDCL) has announced a significant oil and gas discovery at its exploratory well Baragzai X-01 (Slant), located in District Kohat, Khyber Pakhtunkhwa, according to a notice submitted to the Pakistan Stock Exchange (PSX).

OGDCL is the operator of the Nashpa Exploration License with a 65 percent working interest, alongside joint venture partners Pakistan Petroleum Limited (PPL) holding 30 percent, and Government Holdings (Private) Limited (GHPL) with a 5 percent carried interest.

The discovery was made in the Datta Formation (Jurassic age) following a successful cased-hole Drill Stem Test (DST-02). During testing, the well flowed at a rate of 4,100 barrels of oil per day (BOPD) and 10.5 million standard cubic feet per day (MMSCFD) of gas, at a 32/64-inch choke size with a wellhead flowing pressure of 3,880 psig.

Baragzai X-01 (Slant) was spudded on December 30, 2024 as an exploratory well and drilled to a total depth of 5,170 meters into the Kingriali Formation. During drilling, approximately 187 meters of Datta Formation was encountered. Based on strong hydrocarbon shows, interpretation of open-hole wireline logs, petrophysical evaluation, and fracture indications observed on image logs, the decision was taken to conduct cased-hole testing in the formation.

Earlier, the well had also yielded positive results from CHDST-01 in the Kingriali Formation (Triassic age), which had already confirmed a discovery, further enhancing the prospectivity of the structure.

OGDCL stated that this new oil and gas discovery will contribute towards reducing Pakistan’s energy supply-demand gap through the utilization of indigenous resources. It will also add to the hydrocarbon reserves base of OGDCL, its joint venture partners, and the country, reinforcing efforts to enhance energy security and reduce reliance on imported fuels. – ER Web Desk

Receives Rs 8.3 Billion From Uch Power

OGDCL notice to Pakistan Stock Exchange: In continuation of our earlier announcement dated December 11, 2025, we are pleased to inform that, as part of the circular debt settlement, OGDCL has further received Rs 8.3 Billion from Uch Power (Private) Limited towards settlement of outstanding receivables. This receipt reflects Government of Pakistan’s initiative to address circular debt in the energy sector.

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