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OGDC recovers oil, gas in Balochistan

Dunya News

The OGDC has made oil and gas discovery at Nashpa-3, a well located in the Karak district.

According to reports, along with Oil and Gas Development Company’s stake of 56.5% in the field, Pakistan Petroleum Limited (PPL) also has a stake of 26.1% in Nashpa.Initial test results have shown total oil production of 3,165 bpd and gas production of 15 mmcfd; largely inline with market expectations. This is likely to take cumulative oil and gas production from Nashpa block to 11,500bpd and 40mmcfd, respectively.We estimate the latest flows to come online in 6 - 9 months.The predominant oil discovery is likely to boost oil production (share adjusted) for OGDC and PPL by 4% and 9%, respectively.