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PESHAWAR, Jan 20 (APP):A breakthrough has been achieved in Khyber Pakhtunkhwa’s oil and gas sector, as Oil and Gas Development Company Limited (OGDCL) has announced the discovery of new oil and gas reserves in the province.
This development is expected to support Pakistan’s energy needs and have a positive impact on the local economy.
OGDCL has formally informed the Pakistan Stock Exchange (PSX) about the discovery through an official notice.
According to the details, daily production of 3,100 barrels of crude oil has been achieved from the Bargzai X-1 well located in the Kohat district.
In addition, a well in the Nashpa Block has yielded 8.15 million cubic feet of gas per day, which is being described as an important advancement in view of the country’s growing energy needs. Officials reported that the wellhead flowing pressure has been recorded at 3,010 pounds per square inch (psi).
OGDCL stated that drilling at the Bargzai X-1 well was completed on December 30, 2024, reaching a depth of 5,170 meters. Meanwhile, drilling operations at the Nashpa Field were successfully completed using modern and advanced drilling systems.
Energy experts believe that this new discovery in Khyber Pakhtunkhwa could play a vital role in strengthening Pakistan’s energy sector, reducing dependence on imported fuel and saving valuable foreign exchange.