Islamabad: Oil and Gas Development Company Limited (OGDCL) announced its fourth gas and condensate discovery in the Lockhart Formation at the Spinwam-1 Well, located within the Waziristan Block. The announcement was made on April 8, 2025, marking a continuation of successful exploration activities in the region.

OGDCL holds a 35% working interest in the Waziristan Block, with Mari Energies Limited serving as the operator with a 55% stake and Orient Petroleum Inc. holding the remaining 10%. The recent discovery at the Spinwam-1 Well follows previous announcements of hydrocarbon discoveries in the Samanasuk, Kawagarh, and Hangu formations on February 25, March 18, and April 3, 2025, respectively. The testing program targeting all formations in the well has now concluded.

The current testing in the Lockhart Formation revealed significant flowing parameters. With a choke size of 64/64", the well produced 70.3 million standard cubic feet per day (MMSCFD) of gas and 310 barrels per day of condensate, with a wellhead flowing pressure (WHFP) of 3,264 psig. A reduced choke size of 32/64" resulted in a flow of 29.3 MMSCFD of gas and 166 barrels per day of condensate, with a wellhead flowing pressure of 4,993 psig.

According to information available from the Pakistan Stock Exchange (PSX), this discovery is part of OGDCL's ongoing efforts to enhance energy resources in the region. The information was submitted in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations, for dissemination among PSX members.

This latest discovery underscores the potential of the Waziristan Block to contribute significantly to the energy sector, falling under the designated market category of natural resources.