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102nd discovery: OGDCL finds gas in Attock as Pakistan to host TAPI meeting in Feb for $10b pipeline

102nd discovery: OGDCL finds gas in Attock as Pakistan to host TAPI meeting in Feb for $10b pipeline

ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has made 102nd discovery and found out hydrocarbon-bearing horizons in its exploratory well Jand no 1 in district Attock, as Pakistan has announced to host steering committee meeting on long desired Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline.

According to OGDCL, the well was drilled to the depth of 6,050 metres targeting to test the hydrocarbon potentials of Sakessar, Chorgali, Nammal, Patala and Lockhart formations,” the company stated.

The hydrocarbons were found at Jand no. 1. Sakessar and Chorgali formations were tested jointly delivering 10.60 mmcfd (million cubic feet per day) gas and 21 barrels per day (bpd) condensate through 32/64-inch choke at wellhead flowing pressure of 1780 PSI (pounds per square inch).

OGDCL Chairman Zahid Muzaffar, in a press conference, called to mark the discovery of the well. He said the committee meeting would be held before February 15 and quoting Turkmenistan president he said, the land consortium partners would also be finalised in year 2015.

Pakistan has been eyeing the TAPI gas pipeline to meet its energy deficit from last many years. With an estimated cost of $10 billion, the pipeline is estimated to transit 33 billion cubic meters (bcm) of Turkmenistan gas, in around 30 years, with India and Pakistan, each taking 42 percent of the transit and Afghanistan retaining the remainder.

After a deadlock of many years over pricing and pipeline security issues, the formation of a new company, this year, has been declared a breakthrough, where stakeholders are all the four partners and transaction advisor is Asia Development Bank. TAPI Pipeline Company Limited will see Turkmengaz, Afghan Gas Enterprise, Inter State Gas Systems (Private) Limited (Pakistan), and GAIL (India) Limited with equal shares.

OGDCL Chairman was referring to the 19th round of TAPI Steering Committee Meeting held in Ashgabat, Turkmenistan, last month, which was attended by Petroleum Ministers of Turkmenistan, Afghanistan, Pakistan and India, while Asian Development Bank (ADB), also participated in the meeting.

During the meeting it was decided that the next meeting of the Steering Committee would be held in February 2015 in Islamabad. It was also agreed to begin constructing the pipeline by 2016, with completion by the end of 2018. Previously the project deadline line was 2017.