The OGDCL has 56.45 percent stake, PPL 28.55 percent while GHPL has 15.0 stakes in it. This is the first discovery of crude oil and gas from "Samanasuk Formation" in Mela Oil Field, OGDCL said this in a notice sent to Pakistan Stock Exchange on Tuesday.
The structure of Mela Well 05, was drilled and tested using OGDCL's in house expertise. The well was drilled down to the depth of 5070 meters. The well has tested 95BPD of crude oil and 0.249mmscfd of gas through 32/64 inches choke at well head flowing pressure of 160-67 Psi from Samanasuk formation.
The discovery of Mela 05 is the result of an aggressive exploration strategy adopted by the company. It has opened a new avenue and would add to the hydrocarbon reserves base of OGDCL and of the country.