Islamabad: The Oil and Gas Development Company Limited (OGDCL) reported a second discovery of gas and condensate at the Spinwam-1 well within the Waziristan Block on March 18, 2025. This announcement follows an earlier discovery in the same well's Samanasuk Formation, made public on February 25, 2025. The new discovery is situated in the Kawagarh Formation.

OGDCL holds a 35% working interest in the Waziristan Block. Mari Energies Limited operates the block with a 55% interest, while Orient Petroleum Inc. holds the remaining 10%. The Spinwam-1 well has tested a production capacity of 20.485 million standard cubic feet per day (MMSCFD) of gas and approximately 117 barrels per day of condensate. These results were achieved using a 32/64" choke, with a Well Head Flowing Pressure (WHFP) recorded at 3,431 psig.

Testing of additional formations is currently underway. According to information available from the Pakistan Stock Exchange (PSX), the disclosure was made to comply with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations, ensuring the information is disseminated among PSX members.

This development marks a significant milestone for the companies involved in the Waziristan Block, categorized under the designated market category of exploration and production.