Five new oil and gas reserves discovered, says OGDCL

The Oil and Gas Development Company Limited (OGDCL) has announced the discovery of five new oil and gas reserves in various places across the country.

According to details, the new reserves have been discovered in Kohat, Sukkur and Shakardara. Pakistan Oilfields Limited (POL) has stated that preliminary tests have shown a probable production of 3,240 barrels of condensate per day, 16.12 mmscf (million standard cubic feet) of gas per day and 48 barrels of water per day from Mamikhel South-01 exploratory well in Tal block in Khyber Pakhtunkhwa (KP).

The drilling on Mamikhel South-01 exploratory well arted in October 2019, reaching a depth of 4,939 meters on May 23, 2020.

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The development comes as the country produces less than 4 bcfd of gas per day only, in contrast with the 7 bcfd requirement in a day as the country extensively depends upon fuel imports for its energy requirements and imported US$ 9.8 billion worth of oil and gas from July 2019 to May 2020 alone.

The Tal block is shared by POL, Pakistan Petroleum Limited (PPL) and OGDC with a stake of 21 per cent and 28 per cent each respectively.