KARACHI: Oil and Gas Development Company Limited (OGDCL) on Tuesday announced the discovery of natural gas in the province of Khyber Pakhtunkhwa, Pakistan.
In a communication shared with the Pakistan Stock Exchange (PSX), the OGDCL said that the company being operator of Wali Exploration License with 100 per cent working interest had made a gas and condensate discovery over Hangu Formation from its exploratory efforts at Wali #01 well which is located in FR Lakki, Khyber Pakhtunkhwa Province, Pakistan.
“Wali# 01 was spudded-in on December 02, 2019, as an exploratory well and drilled down to a total depth of 4727m (measured depth) inside Kawagarh Formation. Based on the good oil/gas shows during drilling, interpretation of open whole logs data, successful testing was carried out in Kawagarh formation, which proved to be gas/condensate discovery.”
Now, Drill Stem Test (DST) # 02 has been performed in Hangu Formation. The well flowed at the rate of 11.361 Million Standard Cubic Feet per Day (MMSCFD) gas and 895 Barrels per Day (BPD) condensate with Well Head Flowing Pressure (WHFP) of 2800 Pounds per Square Inch (PSI) at 32/64” choke size.
It is highlighted that this gas/condensate discovery has further extended the hydrocarbon play area on the southwestern part of the Bannu Basin.
OGDCL being the leading Exploration & Production Company in Pakistan has adopted an aggressive exploration strategy which has resulted in hydrocarbons discoveries.
“This discovery will add to the hydrocarbon reserves base of OGDCL and of the country. It will positively contribute to mitigating energy demand and supply gap from indigenous resources,” the company said, adding that the company would continue to strive for increasing shareholders’ value through a robust exploration program.