PESHAWAR – The Oil and Gas Development Company on Thursday has announced two new gas reserves in Kohat and Hangu, which will produce at least 5.7 million cubic feet of gas per day.
According to sources, the reserves in Hangu will produce nearly 4.1 million cubic feet of gas per day while the newly discovered reservoir in Kohat will provide 1.6 million cubic feet of gas per day.
The petroleum products from the new reserves will be added to the system for the next three months.
The new sources will also produce 44 barrels of crude oil per day.
The sources said OGDCL bourse price increased by Rs0.79 to Rs105.16 and over 1.3 million stocks were traded.
Earlier on November 29, the Oil & Gas Development Company Limited (OGDCL) discovered new deposits of oil and gas in Musa Khel, district of Balochistan.
The structure of Lakhirud X-1 was drilled and tested using OGDCL’s in-house expertise while the well was drilled down to the depth of 3000 meters.
