OGDCL discovers oil, gas in Kohat district KP
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ISLAMABAD: Oil and Gas Development Company (OGDC) has announced that the joint venture of Chanda D&PL has discovered crude oil and gas from its development Well-05, which is located in district Kohat, Khyber Pakhtunkhwa province.
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 in Chanda Oil Field,” an OGDCL press release said.
The Joint Venture comprises of OGDCL as operator with 72% holding, Government Holdings (Private) Limited (GHPL) with 17.5% holding, and Zaver Petroleum Corporation (Prviate) Limited (ZPCL) with 10.5% holding. According to the official notice sent by the company, this is the first discovery of crude oil and gas from “Wargal Formation” in Chanda oil field.
“The discovery of Chanda well 05 is the result of aggressive exploration strategy adopted by the company. It has opened a new avenue in Khyber Pakhtunkhwa area for exploration of deeper prospects for other E&P companies operating in the area. This discovery of oil and gas at deeper prospects would certainly add to the hydrocarbon reserve base of OGDCL and of the country” the note by the company stated.
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