OGDCL Discovers Gas with the Chandio #1 Well in Hyderabad

The Oil and Gas Development Company Limited (OGDCL) has made a gas and condensate discovery from its exploratory well Chandio # 01 on the Tando Allah Yar Exploration License located in District Hyderabad. Hydrocarbons have been found from Lower Goru Formation. Chandio #1 is operated by a joint venture between OGDCL (95%) and GHPL (5%) with OGDCL as operator.

The Chandio well was drilled down to the dept of 3660 meters, targeting to test the potentials of "Massive", "Basal" & A-Sands of Lower Goru Formation of Cretaceous Age. Base on drilling & electric log data, four zones were selected for testing. Production testing of Zone-3 (Massive-Sands) of Lower Goru Sand member proved productive.

OGDCL is the largest petroleum exploration and production, or E&P, company in the Pakistan oil and gas sector, with a primary focus on gas.

With a portfolio of 42 exploration licenses, the Company has the largest exploration acreage (80,128.76 Sq. Kms) in Pakistan. This includes two exploration licenses namely Guddu and Indus offshore-S granted to the Company in February and March 2007.

While its focus to date has been on onshore exploration, the Company has also recently begun conducting offshore exploration activities; an area which the Company believes has significant untapped potential.