In a significant development for Pakistan’s energy sector, the Oil and Gas Development Company Limited (OGDCL) has announced a major gas discovery in the province of Khyber Pakhtunkhwa (KPK).
The announcement was made through a communication sent to both the Pakistan Stock Exchange (PSX) and the London Stock Exchange (LSE).
According to the statement released by OGDCL, the company has successfully tested gas and condensate in the Lockhart Limestone formation at the Wali-1 well, located in FR Lakki, Khyber Pakhtunkhwa Province, Pakistan. The Wali-1 well, which was spudded-in on December 2, 2019, as an exploratory well, was drilled to a total depth of 4727 meters into the Kawagarh Formation.
Earlier testing at the same well had yielded positive results in the Kawagarh and Hungu Formations, confirming the presence of gas and condensate. The recent testing in the Lockhart Limestone formation has revealed gas production at a rate of 13.695 million Standard Cubic Feet Per Day (MMSFD) and condensate production at 1010 barrels per day (BPD), with a choke size of 32/64 and a Wellhead Flowing Pressure of 3050 Psig.
The discovery of hydrocarbons in the deeper reservoirs not only extends the hydrocarbon play area in the south-western part of the Bannu Basin but also reduces exploration risk. This discovery is expected to have a positive impact on mitigating the energy demand and supply gap in Pakistan by utilizing indigenous resources. Additionally, it will enhance OGDCL’s hydrocarbon reserves base and contribute to the country’s overall hydrocarbon reserves.
This discovery marks a significant milestone for OGDCL and the energy sector in Pakistan. It underscores the company’s commitment to exploration and development activities in the region, as well as its contribution to the country’s energy security. OGDCL remains dedicated to further exploration efforts to unlock the full potential of Pakistan’s natural resources and meet the nation’s energy needs.