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A large oil and gas reserve has been discovered in the Thar block area of Kohat in Khyber Pakhtunkhwa province, with the Razgir-1 formation revealing promising mineral deposits that could significantly enhance Pakistan’s energy resources.
According to Oil and Gas Development Corporation Limited (OGDCL), the well is currently producing about 159 barrels of oil and 16.4 million standard cubic feet of natural gas per day.
The discovery is a result of collaboration between OGDCL, Pakistan Petroleum Limited (PPL) and Pakistan Oilfields Limited (POL) and drilling operations will begin in January 2024.
The discovery follows another successful oil discovery in the Thar block last month, further highlighting the region’s potential as a rich energy source. The joint venture’s exploration activities continue to yield positive results, highlighting the strategic importance of the Thar block in meeting Pakistan’s energy needs.
OGDCL promptly informed the government and Pakistan Stock Exchange of the development, reflecting the potential economic benefits and positive impact on the country’s energy security. The news was met with optimism as it is expected to increase Pakistan’s domestic energy production and reduce its dependence on imported fuel.
The discovery of Razgir 1 is seen as a step towards addressing the energy challenges facing Pakistan, raising hopes for greater energy self-sufficiency and boosting the national economy.
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