ISLAMABAD – Oil and Gas Development Company Limited (OGDCL) has madeanother discovery of oil and gas deposits in Kohat, Khyber-Pakhtunkhwa(K-P), stated a stock exchange notice sent on Tuesday.
OGDCL is a state-owned firm, which remains the single largest oilexploration company listed at the Pakistan Stock Exchange (PSX).——————————
Oil and Gas Development Company Limited (OGDC) as the operator, in a jointventure with Mela D&PL (56.45%), Pakistan Petroleum (PPL) (28.55%) andGovernment Holdings Private Limited (15%) has discovered Oil and Gas fromthe Well Mela #05, which is located in District Kohat, Khyber Pakhtoonkhwa.
This is the first discovery of Crude Oil and Gas from “Samanasuk Formation”in Mela Oilfield.
The structure of Mela Well #05 was drilled and tested using OGDCL’sin-house expertise. The well was drilled down to a depth of 5070 meters.The test resulted in 95BPD of Crude Oil and 0.249 MMSCFD of gas through32/64” choke at wellhead flowing pressure of 160-67 Psi from Samanasukformation.
The discovery of Mela #05 is the result of an aggressive explorationstrategy adopted by the company. This has opened a new avenue and would addto the hydrocarbon reserves of OGDCL and of the country.
OGDCL’s script at the bourse was trading at Rs 153.30, up by Rs 0.72 with aturnover of 1.77 million shares.