MPCL announces huge gas well discovery in North Waziristan
Mari Petroleum Company Limited (MPCL) has discovered a big gas reservoir of one trillion cubic feet in North Waziristan which will be helpful in saving the country’s foreign remittance of approximately $1.5 billion per annum.
According to sources, this is a big discovery of MPCL and with this discovery the country’s foreign remittance of approximately $1.5 billion per annum will be saved. “This is good news, after a long time, for an energy starved country as it is estimated that this reservoir will produce approximately 15 percent of the total gas production of the country,” said a source privy to the development.
He added that the price of this indigenous gas will be around $4 per Million British Thermal Unit (MMBTU) while the country is already bearing the brunt of $25 per MMBTU Liquefied Natural Gas (LNG). According to the MPCL, production of 25 million cubic feet of gas has been started from ST-1 exploration well drilled in Bannu west block, located in North Waziristan, Khyber Pakhtunkhwa. And, more gas supply from other wells will be 200 million cubic feet per day (MMCFD). Similarly, crude oil production from Bannu west block has also started.
As per MPCL, the said well was spud-in on June 06, 2021 and successfully drilled down to the depth of 4,915 metres. The Drill Stem Tests carried out in Lockhart Limestone formation flowed gas at a rate of around 25 Million Standard Cubic Feet Per Day (MMSCFD) with wellhead flowing pressure (WHFP) of 4339 Psi and around 300 Barrels per Day condensate at 32/64-inch choke size (Pre-acid job). MPCL is the Operator of Bannu west block having 55% working interest along with OGDCL and ZPCL as joint venture partners having 35% and 10% working interest respectively.
MPCL believes that this is a large gas/condensate discovery and first ever in North Waziristan, which is the result of an aggressive exploration strategy adopted by the company and supported by the Joint Venture partners. Further, appraisal however is required to confirm the extent and production potential of the discovery. Once developed, it will help to mitigate gas demand and supply gap from indigenous resources and will add to the hydrocarbon resource base. Earlier, another Drill Stem Test in Hangu Formation also tested gas at a rate of around 1.6 MMSCFD with WHFP of 297 Psi at 32/64 inch choke size.
Faheem Haider, Managing Director has said that the management is very excited about this discovery which could go a long way in meeting the country’s energy needs from indigenous resources resulting in saving of foreign exchange on account of import substitution. He said that we are committed to implement a fast track appraisal and development program to fully exploit the hydrocarbon resources and to discover additional hydrocarbon potential in the block.
Source: This news is originally published by profit.pakistantoday