By Jaime Llinares Taboada

Oil & Gas Development Co. said Tuesday that its Wali-1 exploration well confirmed the presence of hydrocarbons at the deeper reservoirs of its Wali block in Pakistan.

The Pakistani energy company said the third prospective zone, Lockhart Limestone, has been tested at a rate of 13.7 million standard cubic feet of gas and 1,010 barrels of condensate per day.

"This confirmation of presence of hydrocarbon in the deeper reservoirs has further extended the hydrocarbon play area on the south western part of Bannu Basin and de-risked the exploration," OGDC said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

September 28, 2021 06:30 ET (10:30 GMT)