ISLAMABAD: The Oil and Gas Development Company (OGDC) announced on Tuesdaythat it has discovered oil and gas reserves at its Chanda Well-5 in Kohatdistrict of Khyber Pakhtunkhwa.
According to a preliminary test, the well could produce 76 Barrel per Day(BPD) crude oil and 0.512 Million Standard Cubic Feet per Day (MMSCFD) gas.
“This is the first discovery of crude oil and gas from Wargal Formation inChanda Oil Field,” an OGDC statement said. “The Well-5 was drilled 5,440meters deep and tested using the OGDC’s in house expertise.”
The OGDC is an operator of the Chanda Well with 72pc shares, whileGovernment Holdings (Private) Limited (GHPL) and Zaver PetroleumCorporation (Private) Limited (ZPCL) have 17.5pc and 10.5pc sharesrespectively.
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As per the company, the discovery was the result of aggressive explorationstrategy adopted by the OGDC, which opened “a new avenue in KP area forexploration of deeper prospects for other exploration and productioncompanies operating in the area.”
