OGDCL announces oil, gas discovery in KP

MG News | December 24, 2020 at 05:23 PM GMT+05:00

0:00

Dec 24, 2020: Oil and Gas Development Company Limited (OGDCL) on Thursday announced a new discovery at its exploratory well Saib-I in district Kohat of Khyber Pakhtunkhwa.

“The well was drilled down to the depth of 5500 meters based on open hole logs data, tested at rate of 1.6 Million Standard Cubic Feet per Day (MMSCFD) of gas and 12 Barrels per Day (BPD) of condensate,” a news release said.

The company said one more zone in Lumshiwal/Hangu Formation had been tested at 4.18 MMCFD of gas and 32 BPD of condensate.

It said the discovery of Saib-I was the result of aggressive exploration strategy adopted by the company. “It has opened a new avenue and will add to the hydrocarbon reserves base of OGDCL and the country. It will contribute in reducing the gap between supply and demand of oil and gas through the exploitation of indigenous resources”, it added.

APP

Related News

Name	Price/Vol	%Chg/NChg
KSE100	169,173.38 310.84M	-1.40% -2405.93
ALLSHR	101,133.75 1,318.51M	-1.22% -1244.19
KSE30	51,218.37 100.35M	-1.70% -886.76
KMI30	242,294.52 122.27M	-1.55% -3809.09
KMIALLSHR	65,386.84 484.61M	-1.28% -850.18
BKTi	47,625.89 58.60M	-2.13% -1037.06
OGTi	35,188.95 5.89M	-1.61% -575.74

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	77,920.00	78,900.00 77,220.00	-1015.00 -1.29%
BRENT CRUDE	102.78	106.15 101.25	0.87 0.85%
RICHARDS BAY COAL MONTHLY	103.25	0.00 0.00	-0.75 -0.72%
ROTTERDAM COAL MONTHLY	102.10	102.10 102.00	-0.40 -0.39%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	93.43	97.22 92.30	0.47 0.51%
SUGAR #11 WORLD	13.85	13.98 13.73	0.04 0.29%