OGDCL discovers new oil and gas reserves in Pakistan
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The Oil and Gas Development Company Limited (OGDCL), as the operator (97.5 percent) of Baratai Block has discovered gas and condensate from its Exploratory Well Siab-1, which is located in District Kohat, Khyber Pakhtunkhwa Province.
In a notification to the Pakistan Stock Exchange, the company announced that the structure of Siab-1 was drilled and tested using OGDCL’S in house expertise. The well was drilled down to a depth of 5500 meters.
Based on open hole logs data, the well was tested at a rate of 1.6 Milion Standard Cubic Feet per Day (MMSCFD) of gas and 12 Barrels per day (BPD) of condensate through 32/64″ choke at Well Head Flowing Pressure of 190 Pounds per square inch (PSI) from Samanasuk Formation.
One more zone in the “Lumshiwal/Hangu” formation has been tested at 4.18 million standard cubic feet per day (MMSCFD) of Gas and 32 barrels per day of condensate through choke size 32/64″ at wellhead flowing pressure of 387 Pounds Per Square (Psi), added the notification.
The Joint Venture of Baratai Block comprises OGDC as the operator of the well with a 97.5 percent work interest and Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) 2.5 percent work interest.
The discovery of Siab-1 is the result of the aggressive exploration strategy adopted by the Company. It has opened a new avenue and would add to the hydrocarbon reserves base of OGDCL, KPOGCL, and of the country and will contribute in reducing the gap between supply and demand of oil and gas in the country through the exploitation of indigenous resources
