Oil and gas reserves discovered at the Baloch-2 well in Sanghar, Sindh, have been made operational.
According to Express News, OGDCL continues to achieve significant successes, and there’s more good news for the national economy as production has started from the recently discovered oil and gas reserves in Sanghar district.
OGDCL’s spokesperson stated that the Baloch-2 well, located in the Sinjhoro Block and part of the Sembar Formation, was drilled up to 3,920 meters in August 2024, leading to the discovery of oil and gas reserves.
As per the spokesperson, the Baloch-2 well is currently producing 350 barrels of oil per day and 50 MMSCFD of gas. This discovery is expected to bring new opportunities for prosperity and development in the region.
Earlier, Pakistan’s oil reserves saw a 26% rise, while gas reserves increased by 2% by the end of the 2024 financial year, according to official data from the Petroleum Information Service.
These positive developments were achieved with the support of the Special Investment Facilitation Council (SIFC), which enabled new discoveries in the exploration and production sectors.
By June 2024, Pakistan’s crude oil reserves reached 243 million barrels, compared to 193 million barrels in December 2023.
Similarly, gas reserves grew from 18.10 trillion cubic feet in December 2023 to 18.47 trillion cubic feet by mid-2024.
Experts note that the newly discovered oil reserves can meet Pakistan’s needs for 10 years, while gas reserves are sufficient for 17 years.
Energy expert Hamdan Ahmed praised the government’s proactive measures, attributing the 50 million barrel increase in oil production and the 1.1 trillion cubic feet growth in gas reserves to effective exploration and well-managed initiatives.
Key contributors to these achievements include the Oil & Gas Development Company (OGDCL), Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited, and Pakistan Oilfields Limited.
This promising progress, aided by SIFC reforms, is expected to attract more investments in Pakistan’s gas sector, especially in exploration and production.
