The Oil and Gas Development Company Limited (OGDCL) has announced a significant discovery of gas and condensate at its Soghri North-1 well in the Attock District of Punjab. The well was drilled to a depth of 4,942 meters and produced a gas flow rate of 13.95 MMSCFD along with 430 barrels per day of condensate. This discovery marks an important milestone in the company’s exploration efforts and provides a promising boost to the country’s domestic energy resources.
This new find is expected to enhance Pakistan’s energy supply by increasing the availability of locally sourced gas, thereby reducing reliance on imported fuels. In addition, the positive outcome of the exploration has boosted investor confidence, as reflected by a 0.97% increase in OGDCL’s stock price following the announcement. The discovery not only underscores the potential for further exploration success but also paves the way for improved energy stability and growth in Pakistan’s energy sector.
