OGDC rubbishes off rumors pertaining to discovery of Shale hydrocarbons

November 25, 2019 (MLN): The Oil and Gas Development Company Limited on Monday issued a clarification regarding the reports doing the rounds in the media that the company has discovered shale hydrocarbons in the province of Sindh.

In a notification issued to the Pakistan Stock Exchange, the company stated that the information contained in these reports was factually incorrect, as OGDCL has neither shared any information in this regard nor has the company so far drilled any shale well.

The company is, however, working on a Shale Pilot Project which includes drilling of a Shale well at a future date, the notice stated.

Throwing a jibe at these reports, the company stated that it disseminates all material information to the relevant stakeholders, including Pakistan Stock Exchange and London Stock Exchange as per compliance and regulatory requirements.

‘It is requested that any information not issued by OGDCL may be ignored’, the notice added.

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Posted on: 2019-11-25T12:59:00+05:00