As an operator (100 percent), the Oil & Gas Development Company Limited has discovered gas and condensate in its Hangu Formation at Wali 01 Well in FR Lakki, Khyber Pakhtunkhwa.
According to its notice issued to the Pakistan Stock Exchange, the discovery was made inside the Wali 01 exploratory well in the Lockhart Limestone exploratory zone.
Based on the substantial oil/gas shows during the drilling and the interpretation of open-hole logs data, successful testing was carried out in the Hangu Formation’s exploratory zone, which proved to be a gas/condensate discovery.
The well has been tested for 13.695 MMSCFD of gas and 1010 BPD of condensate with a wellhead flowing pressure of 3050 Psi at 32/64″ choke size.
This discovery is a result of the aggressive exploration strategy adopted by the Oil & Gas Development Company Limited (OGDCL). It has extended the hydrocarbon play area on the south-western part of the Bannu Basin by successfully discovering more oil and gas at the Hangu Formation.
The discovery will add to the OGDCL’s hydrocarbon reserves and would contribute to reducing the gap between the supply and demand of oil and gas in the country through the exploitation of indigenous resources.