DERA ISMAIL KHAN: The ministry of energy has discovered new reserves of gas and condensate from an exploratory well in the Dera Ismail Khan district.

The discovery was made in collaboration with private partners, the ministry said in a statement. The statement said that the reserves were discovered from an exploratory well, namely 92 Kot Palak-1, which is located in Dera`s frontier region (FR).

`The ministry of energy, Petroleum Division, is pleased to announce that joint venture of Baska North Block (3169-4) comprising Al-Haj Enterprises (Pvt) Ltd as operator (10.85pc), Al-Haj Pakistan Kirthar B.V (85pc) and the Government Holdings (Private) Ltd (4.15pc) have discovered gas and condensate from an exploratory well, namely 92 Kot Palak-1, which is located in the Frontier Region of Dera Ismail Khan, Khyber Pakhtunkhwa,` the ministry`s statement said.

The well was drilled down to a depth of3,527 meters, and as a result of drilling potential hydrocarbon bearing zones were identified showing reserves of 39.12 million standard cubic feet per day gas, 1,840 barrels of condensate per day and 32.8 barrels of water per day, it said.

The statement further said that the discovery would positively contribute to mitigating energy demand and supply gap from indigenous resources, less reliance on imports of oil and gas and would add to the hydrocarbon reserves base of the country.

The statement said the exploratory well was spudded on May 7, 2022, and drilled down to depth of 3,527 meters on November 18, 2022. The state-owned Oil and Gas Development Company Limited (OGDCL) had started the exploration of the oil and gas reserves on June 26 this year.

This is the 15th oil and gas discovery during the current calendar year, the energy ministry`s statement concluded.-Correspondent