Khairpur: Oil and Gas Development Company Limited (OGDCL) has reported the discovery of significant hydrocarbon reserves in the Sawan South Block at Khairpur. This announcement was made on October 23, 2024, highlighting a significant boost for Pakistan's energy sector.

According to information available from the Pakistan Stock Exchange (PSX), the venture involves OGDCL with a 20% working interest, United Energy Pakistan Limited (UEPL) as the operator holding 75%, and minor shares by Government Holding Private Limited (GHPL) and Sindh Energy Holding Limited (SEHL), each at 2.5%. The drilling success came after the well reached a depth of 12,675 feet MD on August 18, 2024, and has shown a promising output of 10 million standard cubic feet per day (MMSCFD) of gas with a wellhead flowing pressure of about 4100 psi.

This discovery is pivotal in de-risking further exploration in the Sawan South Block and is expected to significantly bolster Pakistan's indigenous energy resources, enhancing the national energy security.

This information complies with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations, ensuring timely dissemination among stakeholders and maintaining market integrity.