Islamabad: Oil and Gas Development Company Limited (OGDCL) announced a new oil and gas discovery in the Nashpa Block, located in District Kohat, Khyber Pakhtunkhwa Province, Pakistan. The discovery was made at the exploratory well Baragzai X-01 (Slant), targeting the Samana Suk and Shinawari formations. The announcement was made on January 20, 2026, highlighting the potential energy contributions from this find.

The well, operated by OGDCL with a 65% working interest, is part of a joint venture with Pakistan Petroleum Limited (PPL), which holds a 30% interest, and Government Holdings (Private) Limited (GHPL) with a 5% carried interest. During the Cased Hole Drill Stem Test (CHDST-03) conducted on the Samana Suk and Shinawari formations, the well flowed at 3,100 barrels of oil per day (BOPD) and 8.15 million standard cubic feet per day (MMSCFD) of gas. The flow occurred through a 32/64-inch choke size, at a wellhead flowing pressure of 3,010 psig.

Spud-in on December 30, 2024, Baragzai X-01 (Slant) was drilled to a total depth of 5,170 meters into the Kingriali Formation. Initial tests in the Kingriali and Datta formations, based on wireline logs, confirmed oil and gas potentials. The current discovery is expected to help reduce Pakistan’s energy supply-demand gap and enhance the hydrocarbon reserves for OGDCL and its partners.

According to information available from the Pakistan Stock Exchange (PSX), the announcement was made in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations. This information was disseminated to members of the exchange, emphasizing the significance of the discovery in the designated market category.