Islamabad: Oil and Gas Development Company Limited (OGDCL) has announced its third gas and condensate discovery at the Spinwam-1 Well, located in the Waziristan Block, Khyber Pakhtunkhwa. The discovery was made in the Hangu Formation, as confirmed by company sources on April 3, 2025.

This latest development follows a prior announcement made on March 18, 2025, regarding a discovery in the Kawagarh Formation at the same well. OGDCL holds a 35% working interest in the Waziristan Block, with Mari Energies Limited acting as the operator with a 55% stake, and Orient Petroleum Inc. owning the remaining 10%.

The Spinwam-1 Well has demonstrated a flow rate of 23.85 million standard cubic feet per day (MMSCFD) of gas and approximately 122 barrels per day of condensate. These figures were recorded at a 32/64″ choke, with a Well Head Flowing Pressure (WHFP) measured at 4,042 psig. The testing of additional formations is currently underway to further assess the potential of this site.

According to information available from the Pakistan Stock Exchange (PSX), the announcement is in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations. This compliance ensures that the information is disseminated among PSX members.

This discovery highlights the ongoing exploration and development activities in the Waziristan Block, contributing to the energy sector in Pakistan. The market category for this announcement falls under the oil and gas development industry.