Pakistan Petroleum Limited (PPL), a key supplier of natural gas in the country, has discovered gas reserves from its exploratory well in Khairpur district, Sindh.
The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“We are pleased to disclose that a gas discovery has been made from the exploratory well Tor-1 in Latif Block, located in Khairpur district, Sindh, which is operated by United Energy Pakistan Beta (UEP Beta) with 33.40% working interest along with its joint venture partners Pakistan Petroleum Limited (PPL) and Prime Pakistan Limited with 33.30% working interest each,” read the notice.
PPL shared that the exploratory well Tor-1 was spud-in on May 5, 2024, and successfully reached the target depth at 3,438 meters.
“Based on wireline logs interpretation and Modular Formation Dynamic Tester (MDT), Intra-C Sand of Lower Goru Formation was tested. The well flowed at the rate of 11.27 million standard cubic feet per Day (mmscefd) gas against well head flowing pressure (whfp) of 1,424 pounds per square inch (psi) at 40/64” choke,“ it added.
PPL added that the latest discovery will add more hydrocarbon reserves and will help in enhancing the indigenous hydrocarbon supply and mitigating the gas demand in the country.
PPL was incorporated in Pakistan in 1950 with the main objectives of conducting exploration, prospecting, development and production of oil and natural gas resources.
Pakistan has notable natural gas reserves that play a critical role in the country’s energy sector. These reserves are primarily located in the provinces of Sindh, Baluchistan, and Khyber Pakhtunkhwa.
On Monday, Mari Petroleum Company Limited (MARI), one of Pakistan’s largest energy and exploration companies, informed the bourse that it had successfully drilled and tested another appraisal well in the Mari Ghazij formation located in Mari Development and Production Lease (D&PL), Sindh.
Moreover, the Oil and Gas Development Company Limited (OGDCL) also successfully revitalised production from Nashpa-4 located in Khyber Pakhtunkhwa, resulting in enhanced production from the well.