Good news for the country’s economy as new reserves of crude oil and gas have been found in Pakistan, reported 24NewsHD TV channel.
Oil and Gas Development Company (OGDC) Limited said on Thursday that the new reserves had been found in Kohat, Khyber Pakhtunkhwa (KP).
The OGDC further said it had intimated the Pakistan Stock Exchange about the development.
The spokesman for the company said that gas reserves of 10.50 million cubic feet had been found at Baragzai X-01 well.
“Similarly, 4,100 barrels of oil had been found from the same well,” he added.
Drilling of the well had started on December 30, 2024.
The well was drilled up to 5,170 meters.
The spokesman informed that the OGDC, PPL and GHPL had 65 per cent, 30 per cent and five per cent shares in the Nashpa Block, respectively.
He said that the discovery would boost the energy reserves of the OGDC as well as the country.
Reporter: Ahsan Abbasi