OGDC announces discovery of gas and condensate at Well Metlo 01

News Image

MG News | January 24, 2020 at 02:54 PM GMT+05:00

0:00

January 24, 2020 (MLN): The Oil and Gas Development Company, in a notification issued to PSX on Friday, has informed that its Joint Venture of Ranipur block comprising itself as the operator (95%), Government Holdings (Private) Limited (2.5%) and Sindh Energy Holding Company (Private) Limited (2.5%) has discovered gas and condensate in the exploratory well Metlo # 01, located in District Khairpur, Sindh Province.

According to the notice issued by the company, Metlo # 01 was spud on November 17, 2019 and reached a depth of 1504 meters inside Upper Goru Formation. Based on wireline logs, Drill stem Test (DST) was conducted in Ranikot Formation and Sui Main Limestone.

The well has tested 1.85 million cubic feet per day of gas, 6 barrels per day of condensate and 378 barrels per day of water through 32/64” choke at well head flowing pressure of 285 Pounds per Square Inch (Psi) from Lower Ranikot Formation.

‘The discovery of Metlo # 01 is the result of aggressive exploration strategy adopted by the company. This discovery will add to the hydrocarbon reserves of OGDCL, GHPL, SEHCL, and of the country and will contribute in reducing the gap between supply and demand of oil and gas in the country through the exploitation of indigenous resources’, the notice said.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 137,306.20
37.76M
0.68%
926.23
ALLSHR 85,052.43
60.70M
0.48%
404.08
KSE30 41,858.33
7.07M
0.75%
312.10
KMI30 193,155.63
6.82M
0.75%
1435.87
KMIALLSHR 56,069.93
42.77M
0.43%
242.20
BKTi 37,894.35
0.36M
0.18%
66.75
OGTi 27,669.40
0.22M
-0.00%
-1.28
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,650.00 119,915.00
118,035.00
-980.00
-0.82%
BRENT CRUDE 68.79 69.01
68.74
0.27
0.39%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
1.80
1.90%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-1.05
-0.99%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.74 66.99
66.58
0.36
0.54%
SUGAR #11 WORLD 16.55 16.67
16.40
-0.01
-0.06%

Chart of the Day


Latest News
July 17, 2025 at 09:27 AM GMT+05:00

NBP issues foreign exchange rates


July 17, 2025 at 09:25 AM GMT+05:00

Asia markets subdued amid global uncertainty


July 17, 2025 at 09:10 AM GMT+05:00

Pakistan, El Salvador partner on bitcoin, digital asset


July 17, 2025 at 06:31 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 16, 2025 at 11:00 PM GMT+05:00

SBP raises Rs342bn in PIB Auction



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg