Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, announced the discovery of hydrocarbon reserves at the Bettani-02 (Slant) well in Laki Marwat District, Khyber Pakhtunkhwa. The company revealed this in a notice to the Pakistan Stock Exchange (PSX) on Friday.

The notice stated that OGDCL, the operator of the Wali Exploration License with a 100% working interest, discovered gas and condensate in the Samanasuk formation, an exploratory zone, at the Bettani-02 well. The well, spudded as an appraisal well, was drilled to a depth of 5,080 meters into the Shinawari formation. During drilling, a 247-meter-thick Samanasuk formation was encountered.

A cased hole drill stem test (DST-1) was conducted, resulting in a flow rate of 2.14 million standard cubic feet per day (mmscfd) of gas and 74 barrels of condensate per day (bcpd) through a 32/64“ choke, with a wellhead flowing pressure of 435 psi.

This discovery marks the first hydrocarbon find in the Samanasuk formation within the Wali Exploration License. The discovery expands the hydrocarbon play area in the southwestern part of the Bannu Basin and de-risks the exploration potential of deeper reservoirs. OGDCL has a comprehensive exploration program in place for these deeper reservoirs.

OGDC discovers oil and gas reserves from its exploratory well in Sindh

JS Global estimates that this discovery will have an earnings per share (EPS) impact of PKR 0.2 for OGDC. OGDCL previously discovered natural gas reserves at the Shahu-1 well in Khairpur District, Sindh (October), and hydrocarbon reserves at the Akhiro-1 exploratory well, also in Khairpur District (September).

OGDCL is the largest exploration and production company in Pakistan, with operations encompassing exploration, drilling, production, reservoir management, and engineering support. It holds the most extensive exploration acreage in the country, covering over 40% of the total acreage awarded, with significant net oil and gas hydrocarbon reserves.