Oil and Gas Development Company Limited (OGDCL) has announced another discovery of crude oil and gas at Chanda oilfield situated in Kohat, Khyber Pakhtunkhwa.
The discovery was made by the Joint Venture of Chanda D&PL, comprising OGDCL as operator with a 72% stake, together with M/s GHPL having a 17.5% stake and M/s ZPCL having a 10.5% stake in the project.
“This is the first discovery of Crude Oil and Gas from Hangu formation in Chanda oil field,” said the notification.
The notification added:
“The structure of Chanda Well #01 was tested during workover (re-completion) using OGDCL’s in-house expertise and in close collaboration with the teams of GHPL & ZPCL.”
The well has tested 700 BPD of Crude Oil and 2.2 MMSCFD of Gas through 32/64” choke at well head flowing pressure of 1150-1200 Psi from Hangu and Lumshiwal formation. Earlier in December 1999, Lumshiwal was tested only 150 BPD of crude Oil and 0.86 MMSCFD of Gas through 32/64” choke at well head flowing pressure of 160-190 Psi and additional contribution of 550BOPD and 1.34MMSCFD gas is from Hangu Formation which has been tested for the first time in Chanda structure.
The well has been completed to take production from the Lumshiwal and Hangu Formations.
The discovery of Chanda Well # 01 is the result of aggressive exploration strategy adopted by the Company.
OGDCL’s script at the bourse was trading at Rs 151.05, up by Rs 0.43 with a turnover of 66,200 shares on Tuesday.