The News reported that the Oil and Gas Development Company Limited with its JV partners Pakistan Petroleum Limited and the Government Holding Private Limited have discovered a new hydrocarbon bearing horizon from its appraisal Well Nashpa 02, located in District Karak, Khyber Pakhtunkhwa.

Officials said that the structure of well was delineated, drilled and tested utilizing indigenous expertise. Nashpa Well No 02 was drilled down to the depth of 4,340 meter, targeting to test oil and gas potential of Datta, Shinawari, Samanasuk, Lumshiwal, Hangu and Lockhart formations.

Significant reserves of hydrocarbons have been found at Nashpa Well No II. The first targeted zone Datta Sandstone has been tested and produced 3,370 barrels per day of crude oil and 11 MMCFD gas through 32/64 choke at wellhead flowing a pressure of 3,800 psi.

This discovery will add to the hydrocarbon reserves base of the company and joint venture partners, bringing significant savings to the country in terms of oil import bill. Testing of another four potential reservoir formations will also be undertaken, wherein similar encouraging results are expected. The full flow potential of this well and the extent of the discovery will be determined after completing the testing program.

(Sourced from www.thenews.com.pk)