In a statement released by the Oil and Gas Development Company Limited (OGDCL), the company has claimed to discover reserves of oil and gas from Chanda Well-5 in Kohat. The operations were a result of a joint venture between the OGDCL, Government Holdings (Private) Ltd (GHPL) and Zaver Petroleum CooperationPvt Ltd (ZPCL).
According to the statement, the oil was found at a depth of 5440 meters. The testing and drilling of oil was conducted by the OGDCL experts and was completed locally. During the tests the well produced 76 barrels/day of crude oil and 0.512 Million Standard Cubic Feet per Day (MMSCFD) gas, through choke size 32/64” at well head, where flowing pressure was observed to be around 89-149 Psi. This is the first time that oil and gas reserves have been found at the Wargal Formation, said the statement.
The officials added that the discovery is a result of the efforts put in the project by the companies and the stakeholders, who are adopting an aggressive exploration strategy for the process. They further added that the company is planning to expand their operations further in Khyber Pakhtunkhwa and the additional sources of hydrocarbons would add to the reserves base of OGDCL and provide the country with reliable and cheap sources of power.