The Oil and Gas Company Limited (OGDCL) has discovered gas and condensate reserves in Kohat Basin of Khyber Pakhtunkhwa (KPK), the company informed the stock exchange on Thursday.

OGDCL, being the operator of Wali Exploration License with 100% working interest, made this discovery over Kawagarh Formation from its exploratory efforts at well Wali # 01, which is located in FR Lakki, KP.

“The said discovery is unique as it is the first ever discovery made in Kawagarh Formation in Pakistan and will open new avenues for exploration and this will give a boost to exploration activities in Pakistan,” said OGDCL in the notice.

OGDCL said that the structure of well Wali # 01 was drilled and tested using its own in-house expertise. “The well was drilled out to the depth of 4,727 meters Kawagarh Formation. Based on the good oil/ gas shows during drilling, interpretation of open hole logs data i.e. presence of fractures in limestone-based on image logs data, Drill Stem Test (DST) was conducted in the Kawagarh Formation of late Cretaceous Age.”

The company said that the well has tested of 11.8 MMSCFD of gas and 945 BPD of condensate with wellhead flowing pressure of 3000 PSI of 32/64 inch choke size.

ODGCL has made a number of discoveries of hydrocarbon reserves in KP province. Previously, it made the discovery of Chanda and has now discovered oil and gas form Kawagarh formation (Kohat Basin) in Pakistan.

“This discovery will add to the hydrocarbon reserves of OGDCL and, in addition to increasing hydrocarbon supply and reducing the energy crisis in our country,” said OGDCL.