Pakistan is a land of natural resources that have been blessed with all natural resources. And those blessings continue to shower as new oil and gas reserves have been found in Sindh. The Oil and Gas Development Company Ltd (OGDCL) confirmed the new development to the stock exchange. The gas and condensate were found from the exploratory cum appraisal Mangrio Well 1 which is located near the district of Tando Mohammad Khan in Sindh. The well was drilled down to more than 2,600 meters and has been tested as well with 10.44mmscfd gas and 120 barrels per day.
OGDCL has got 95% stake of being the operator in the block while Government Holding Private Limited (GHPL) has got the remaining stake. The new gas reserves found in Sindh will definitely help the people of Pakistan who are already going through a tough time right now. Gas is about to be made expensive and this discovery of new reserves can turn out to be a sigh of relief for the people who are already burdened with increasing costs of products. Natural gas is not the only discovery that has been made by Pakistan recently.
Mari Petroleum Company Limited, a company of Fauji Group, has also discovered oil in Punjab, another discovery that can bring good times in Pakistan. The oil was discovered in Punjab area from a well in Gujar Khan located in the district of Rawalpindi. The discovery of oil was made at the Dharian – 1 Ghauri Block. It is expected that the Dharian – 1 will be able to provide 374 barrels of oil per day. Apart from this, the offshore underwater drilling in Karachi is also underway, a joint venture of Exxon Mobil and ENI with an estimated cost of Rs. 14 billion.