The energy crisis is haunting the country for years now. The nation has suffered a great deal in this context. The governments have struggled a lot to look for the reserves all over the country. The current government has even tried to explore the aquatic limits as well. It was expected that there will be some good news coming all the way for the nation. Unfortunately, the thing turned out to be absolutely different than the expectations. The struggle but continued. The oil and gas development company, OGDCL continued the struggle and the results turned out to be really satisfying. The most recent happening in this regard is the statement issued by the Oil and Gas Development Company Limited.
On Tuesday the federal capital echoed with the statement issued by the company Limited regarding the newly discovered reserves of the oil and the gas. As per the statement the oil and gas reserves were discovered Chanda Well 05, which is situated in the Kohat District of the province of the Khyber Pakhtunkhwa.
As per the reports during the early testing it was found that the well has the capacity of producing 76 barrel per day of the crude oil. The expected volume of the MMSCFD gas is 0.512 cubic feet per day. According to the official statement by the Oil and Gas Development Company Limited they had not found any reserves of oil and gas from this region prior to this discovery. It is the first of its kind discovery from the Wargal formation in the Chanda Oil Field.
The statement further added the technical information that stated that the Well-05 was drilled up to the depth of 5,440 meters. The entire technical assistance was provided by the experts of the organization.
The major shareholder in the Chanda Oil Fields is OGDCL itself. At the same time, it has 72 percent shares of the company. The rest of the 17.5 percent and 10 percent shares rest with Government Holdings Private Limited and the Zaver Petroleum Corporation Limited.
The discovery is the outcome of the vigorous hard work and commitment of the company. The company and the organization believe that it is the beginning of a new era for the people of KPK. Back in early July deposits were found in the Sanghar District of Sind.