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OGDC hits record oil, gas discovery in Kohat
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The meeting concluded with a mutual resolve to continue close collaboration between the Ministry of Petroleum and OGDC to overcome challenges and capitalise on opportunities within the energy sector. PHOTO: FILE
Oil and Gas Development Company Limited (OGDC) has achieved the highest-ever oil and gas discovery from a single well in Pakistan's history at its Baragzai X-01 exploratory well in the Nashpa Block, Kohat, according to a statement issued on Wednesday.
After Wednesday's injection of 5,300 barrels of oil per day (bpd), 17 million standard cubic feet per day (mmscfd) of gas and 15 metric tonnes per day of LPG, cumulative production has reached 15,000bpd and 45mmscfd of gas. Production is projected to reach 25,000bpd and 60mmscfd of gas in the near future.
The well now contributes approximately 10% of Pakistan's total crude oil production. Estimated daily revenue stands at Rs156 million, with monthly revenues projected at Rs4.7 billion and annual revenues at Rs57 billion. The development will also result in annual foreign exchange substitution of approximately $329 million by reducing reliance on imported fuels.
Federal Minister for Energy Ali Pervaiz Malik termed the discovery 'monumental' and a significant contribution to the country's energy security. The project was developed in challenging terrain using advanced technologies, including an eight-kilometre pipeline laid in record time.
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