KARACHI: The Oil and Gas Development Company Limited (OGDC), the biggest company in the country in terms of energy reserves, disclosed on Thursday that the joint venture of Guddu Block, comprising OGDC as operator with 70 per cent interest, together with IPRTOC 11.5pc; SEPL 13.5pc and Government Holding (Pvt) Limited having a 5pc stake, discovered gas from its exploratory well, Maru East No 1, located in district Ghotki.
In a filing with the three stock exchanges in the country and the London Stock Exchange Plc, the company secretary of the oil and gas giant says: “The structure of Maru East Well No 1 was delineated drilled and tested using OGDC's in-house expertise.”
The well was drilled down to the depth of 770 metres, targeting to test the hydrocarbon potential of Pirkoh Limestone, whereby reserves of hydrocarbon were found at Maru East Well No 1.
The zone was tested 2.10mmscfd of gas through 32/64 inches choke and flow rates were expected to enhance after acid stimulation treatment.
“The discovery of Maru East Well No 1 will add to hydrocarbon reserves of OGDC, JV partners and the country,” the company stated.
