20000115

OGDC, Zaver discover hydrocarbon deposit

RECORDER REPORT

KARACHI: The Oil and Gas Development Company Limited (OGDC) and Zaver Petroleum Corporation Ltd. (ZPCL) have discovered hydrocarbon deposits at Shakardara Block.

This is the first-ever hydrocarbon discovery in the NWFP, ZPCL, a subsidiary of Hashwanis, said.

The Shakardara Block was awarded to the ZPCL and the OGDC (operator) in December 1994. Drilling of the first exploratory well (Chanda-I) commenced in December 1998. The Chanda Well, located in district Kohat, was drilled to the target depth of 4,850 meters to evaluate the hydrocarbon potential down to the Datta Formation of Jurassic age, the company said. Recent testing results confirmed Chanda to be a multi-reservior structure, it said.

The ZPCL is the first private sector Pakistani organisation to participate in oil and gas exploration and production in the country. Incorporated in 1991, the ZPCL has been actively involved in E&P activities ever since.