The Oil and Gas Development Company Limited (OGDCL) has discovered an oil reserve in the Chakravan Well of Tando Allahyar district, Sindh, with an expected daily output of 275 barrels of crude oil.
According to OGDCL, drilling at the site began on June 2, and oil was found at a depth of 1,926 meters. T
he company has informed the Pakistan Stock Exchange (PSX) of the discovery through an official letter.
OGDCL holds a 95 percent share in the well, while Government Holdings Private Limited (GHPL) owns the remaining 5 percent. This marks the 13th hydrocarbon discovery in the Lower Ranikot formation.
