OGDCL denies discovering shale gas reserves in Sindh

KARACHI: The Oil and Gas Development Company (OGDCL) on Monday denied discovering any reserves of shale gas in Sindh.

The company, in a press release, dismissed circulating media reports in this regard, calling them "factually incorrect".

It denied making any statements on the drilling or discovery of the reserves whatsoever.

The OGDCL reiterated that while it plans on drilling for shale gas in future, it has not done so yet.

The company further said that its clarification comes as it is a compliance and regulatory requirement of stock exchanges in Pakistan and London to do so amid circulation of such reports.

Correction: It had earlier been reported that OGDCL has discovered new oil and gas in Sindh during exploration of shale gas and tight oil deposits in the province. The error is regretted.