In another positive development for Pakistan, the Oil and Gas Development Company Ltd (OGDCL) has found new oil and gas reserves following drilling activities in potential areas of Sindh during exploration of Shale gas and Tight oil deposits.

Sources familiar with the matter told media on Saturday that authorities expect presence of 95 trillion cubic feet (TCF) Shale gas and 14 billion of stock tank barrels (BSTB) oil in place resources. The gas reserves are enough to fulfill the country’s needs for 90 years.

In October, the company discovered oil and gas reserves at its Exploratory Well Tog number 1 in Khyber-Pakhtunkhwa’s (KP) Kohat district.

According to a preliminary test, the well could produce 50 Barrel per Day (BPD) of crude oil, and 4.1 Million Standard Cubic Feet per Day of (MMSCFD) gas.

The OGDCL had said that the discovery would increase hydrocarbon reserves in the country and the discovery would also have positive impact on the country’s economy.

In August, the OGDCL discovered new oil and gas reserves in the district of Kohat, Khyber Pakhtunkhwa (KP). The company, with 50 percent of shares in this well, made sizeable oil and gas-condensate discoveries at its exploratory wells.

According to the data available at that time, initial testing was being considered as encouraging as it showed flow of crude oil at 240 barrels per day and 12.7 mmscf (million standard cubic feet) of gas.

Earlier in June, the OGDCL announced that it had discovered oil and gas reservoir in district Sanghar of Sindh province.

The state-run Oil and Gas Development Company Limited has been planning to drill for discovering oil and gas wells in Sindh.

Months ago, the director-general for Petroleum Concessions Imran Ahmed told the Senate Standing Committee on Petroleum that the total oil and gas production in the country stood at 89,030 barrels per day (BOPD) and 3,935 million cubic feet per day (MMCFD) in 2018-19.

The energy mix of the country comprised 34 per cent natural gas, 31pc oil, 13pc coal, 9pc liquefied natural gas and 1pc liquefied petroleum gas while the rest came from other sources, the committee was informed.

The total sedimentary area was said to be of about 827,268 square kilometres and the area under exploration was 224,976 square kilometres.