OGDCL finds gas reserves in KP

Oil and Gas Development Company Ltd announced on the Pakistan Stock Exchange on Monday that the TAL joint venture — in which the energy explorer has a 30 per cent working interest — has discovered gas condensate from Lockhart formation in Tolanj West-2 development well in the Kohat district of Khyber Pakhtunkhwa. Other partners in the joint venture are MOL Pakistan Oil and Gas Company (operator), Pakistan Petroleum Ltd, Pakistan Oilfields Ltd and Government Holdings Ltd. The Lockhart formation (exploratory target) was tested successfully at the rate of 8.3 million standard cubic feet per day (mmscfd) gas and 34 barrels per day (bpd) of condensate. The well was spudded in on April 10. “This new discovery has de-risked further exploration play in the TAL block, leading to new upside opportunities. The said discovery will also help and contribute towards improving the energy security of the country from indigenous resources and add to the hydrocarbon reserve base of the company, its joint venture partners and the country,” the company said in a statement.