OGDC discovers gas from Nim East-1 exploratory well

News Image

MG News | June 22, 2022 at 09:41 AM GMT+05:00

0:00

June 22, 2022 (MLN): The Joint Venture of Nim Block Comprising Oil & Gas Development Company Limited (OGDCL) as Operator (95%) and Government Holdings (Private) Limited (GHPL) (5% carried) has discovered oil and gas from an exploratory well namely Nim East-1 located in District Tando Allah Yar, Sindh Province.

In a notice to Exchange, the operator (OGDCL) has informed that Nim East-1 was spudded in on 21st March 2022 as an exploratory well by using OGDCL's in-house expertise and in close collaboration with the GHPL team. The well was drilled down to 2573 m.

Based on the results of wireline logs interpretation, Drill Stem Test-1 in the Basal Sand has tested 1400 Barrels of Oil per Day (BOPD) and 5.02 million Standard Cubic Feet per Day (MMSCFD) Gas through choke size 32/64" at Well Head Flowing Pressure (WHFP) of 1820 Pounds per Square Inch (psi).

The said discovery is the 11th discovery in Nim Block which shows the commitment of Nim Joint Venture Partners to exploit the hydrocarbon potential of the block besides reflection of aggressive exploration strategy.

Discovery will help in mitigating energy demand and supply gap from indigenous resources and will add to the hydrocarbon reserves base of joint venture entities and the country, operator said.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,735.00 120,695.00
116,090.00
-3500.00
-2.91%
BRENT CRUDE 68.85 69.41
68.60
-0.36
-0.52%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.71 67.13
66.22
-0.27
-0.40%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May


July 15, 2025 at 04:22 PM GMT+05:00

SYS set for 71% profit surge on global tailwinds



Top 5 things to watch in this week

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