Oil and Gas Development Company Limited (OGDCL) has announced the discovery of gas and condensate in the Samanasuk Formation, an exploration area, at the Petani-02 (Slant) well located in Lakki Marwat District, Khyber Pakhtunkhwa Province.
The exploration and production giant shared this development with the Pakistan Stock Exchange (PSX) through a notification on Friday in accordance with Section 96 of the Securities Act, 2015 and Section 5.6.1(a) of the PSX Regulations.
The Oil and Gas Development Company is the operator of the Al-Wali exploration license with a 100% operating interest.
The company said that the Petani-02 (slanted) well was drilled as an appraisal well and drilled to a depth of 5,080 meters in the Shinawari Formation.
During drilling, the 247 m thick Samansuk Formation was penetrated (exploratory effort). Cased Hole DST-1 was performed, and the well flowed at a rate of 2.14 million standard cubic feet per day (MMSCFD) of gas and 74 barrels of condensate per day on a 32/64-inch choke with a wellhead flow pressure of 435 psi.
Based on preliminary test results, this discovery represents the first-ever hydrocarbon discovery in the Samanasuk Formation under the Wali Exploration License.
This discovery has expanded the hydrocarbon play area in the southwestern part of the Bannu Basin and reduced the risks of exploring deep reservoirs, for which OGDCL has formulated a comprehensive exploration programme.