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OGDCL makes three discoveries in 1st quarter of FY 2021-22

ISLAMABAD, 01 Nov 2021(DNA) : Oil and Gas Development Company Limited (OGDCL) has made three discoveries of hydrocarbon deposits in different areas, having expected cumulative daily production potential of 37 million cubic feet (mmcf) of gas and 2,850 barrels (BBL) of oil, during the first quarter of the Fiscal Year 2021-22.

“The discoveries include Wali-1 (Kawagarh), Wali-1 (Hangu), and Wali-1 (Lockhart) in district FR Lakki, KP province. Preliminary reserves estimates attributable to these discoveries are 293 billion cubic feet of gas and 15 million barrels of oil, combined 71 million barrels of oil equivalent,” the company said in its official report available with APP.

As of September 30, 2021, the OGDCL’s exploration acreage stood at 91,795 square kilometers (sq. km) representing 42 percent of the country’s total area under exploration.

The company’s exploration portfolio currently comprises 50 owned and operated joint venture exploration licenses.

Additionally, the OGDCL possesses a working interest in nine exploration blocks operated by other exploration and production companies.

In order to discover oil and gas reserves, the company during the period under review acquired 336 Line km of 2D seismic data, representing 42 percent of total 2D seismic data acquisition in the country.

Moreover, the OGDCL processed/reprocessed 518 Line km of 2D and 360 sq. km of 3D seismic data using in-house resources.

On the drilling front, it spud three wells including two exploratories (Bago Phulphoto-1 & Bewato-1) and one development well (Hakeem Daho-3).

Moreover, the company completed drilling and testing of seven wells pertaining to the previous fiscal year.

The OGDCL’s total drilling, during the three-month period, remained 11,678 meters.

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