The Oil and Gas Development Company Limited (OGDCL) has discovered gas and condensate reserves in Khyber Pakhtunkhwa (KPK), the company announced in a notification to the Pakistan Stock Exchange (PSX) on Tuesday.

OGDCL, being the operator of Wali Exploration Licence with 100% working interest, has 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, the notice to PSX added.

The oil and gas company informed that Wali # 01 well was spudded in on 2nd December 2019 as an exploratory well and drilled down to a total depth of 4,727m inside Kawagarh Formation. “Based on the good oil/gas shows during drilling, the interpretation of open whole logs data, successful testing was carried out in Kawagarh Formation, which proved to be gas/condensate discovery,” it said.

The company informed that a 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) of 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.

OGDCL highlighted that this gas/Condensate discovery has further extended the hydrocarbon play area on the southwestern part of the Bannu Basin. It added that it 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,” read the statement.

OGDCL makes gas, condensate discovery at Kawagarh Formation

It may be mentioned that OGDCL made gas and condensate discovery over Kawagarh Formation from the same spot back in July. The said discovery was the first-ever discovery made in Kawagarh formation in Pakistan.