Good news for Pakistan, the Oil and Gas Development Company Ltd (OGDCL) has discovered new oil and gas reserves after drilling activities in potential areas of Sindh during search of Shale gas and Tight Oil deposits.

Sources told the media on Saturday authorities anticipate 95 trillion cubic feet (TCF) Shale gas and 14 billion of stock tank barrels (BSTB) oil in place resources.

The gas reserves will be enough to fulfill the country’s needs for 90 years to come, according to sources.

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

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

The OGDCL claims that the discovery would raise hydrocarbon reserves in the country. This would have a good impact on the country’s economy.

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

According to data available at the time, initial testing was considered positive 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 plans to drill and discover 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 components comprised of 34 percent natural gas, 31pc oil, 13pc coal, 9pc liquefied natural gas and 1pc liquefied petroleum gas with the rest coming from other sources, the committe was told.

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