As an operator (100 percent), the Oil & Gas Development Company Limited has discovered a gas and condensate in its Hangu Formation block 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 Hangu Formation.
Based on the good oil/gas shows during the drilling and the interpretation of open-hole logs data, successful testing was carried out in the Hangu Formation, which proved to be a gas/condensate discovery.
The well has been tested for 11.361 MMSCFD of gas and 895 BPD of condensate with a wellhead flowing pressure of 2,800 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 will contribute to reducing the gap between the supply and demand of oil and gas in the country through the exploitation of indigenous resources.