New gas reserves discovered in K-P

The Oil and Gas Development Company Limited (OGDCL) has announced the discovery of new gas and condensate reserves in the Betani-2 well located in the Laki Marwat district of Khyber Pakhtunkhwa (K-P).

According to an OGDCL spokesperson, the new reserves were found in the Samanasak formation, marking the first-ever hydrocarbon discovery in this area, Express News reported.

The spokesperson confirmed that the new reserves are producing 2.14 million standard cubic feet of gas per day, along with 74 barrels of condensate daily.

The discovery is seen as a significant achievement for OGDCL and is expected to play a pivotal role in boosting Pakistan’s energy sector. The spokesperson also revealed that OGDCL plans to drill additional wells in the area to explore further reserves.

"This discovery is an important step forward for the company and the energy sector in Pakistan," the spokesperson said. "We are hopeful that further exploration in the Samanasak formation will yield more reserves."

Previously, OGDCL commenced gas production from newly-discovered reserves in the district of Dera Bugti, Balochistan, with the facilitation of the State Investment and Finance Corporation (SIFC).

According to Express News, the collaboration between SIFC and OGDCL has led to important progress in the energy industry. The focus of SIFC has been to contribute to the stability and growth of Pakistan’s energy sector.

The new gas reserves were discovered in the Uch Sharif area of Dera Bugti. OGDCL drilled a well to a depth of 1,345 meters, resulting in the discovery of natural gas. The production capacity of the reserves is estimated at 5 million standard cubic feet per day.

OGDCL’s Uch Gas Processing Plant will now supply gas to Uch Power Limited, which is expected to boost the company’s economic performance with anticipated profits of up to Rs41.02 billion.

In a statement, OGDCL highlighted that the company is focused on increasing production to ensure national energy security and promote sustainable development.

The company had previously discovered gas reserves in the district of Khairpur, Sindh, further contributing to Pakistan’s energy security.