LAKI MARWAT: Oil and Gas Development Company Limited (OGDCL), Pakistan’s premier exploration and production entity, has announced a significant hydrocarbon discovery at the Bettani-02 (Slant) well in Laki Marwat, Khyber Pakhtunkhwa.
In a notice to the Pakistan Stock Exchange (PSX), OGDCL confirmed the find within the Samanasuk formation, an exploratory zone in the Wali Exploration License, where it holds a 100% working interest.
The Bettani-02 well, drilled as an appraisal effort to a depth of 5,080 meters into the Shinawari formation, revealed a 247-meter-thick hydrocarbon-bearing Samanasuk formation. 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 (bcpd), using a 32/64” choke with a wellhead flowing pressure of 435 psi.
This marks the first hydrocarbon discovery in the Samanasuk formation under the Wali Exploration License. OGDCL stated that this find extends the hydrocarbon play area in the southwestern Bannu Basin and de-risks deeper reservoir exploration. The company plans to pursue a comprehensive exploration program in the region.
The discovery is projected to contribute approximately Re0.2 per share to OGDCL’s earnings, according to JS Global.
OGDCL recently reported other hydrocarbon discoveries, including natural gas reserves at the Shahu-1 well in Khairpur, Sindh, in October, and reserves at the Akhiro-1 well in the same district in September.
As the largest E&P company in Pakistan, OGDCL operates across exploration, drilling, reservoir management, and production, holding over 40% of the country’s awarded exploration acreage.
