Pakistan Petroleum Limited has discovered hydrocarbons from its exploration well Badeel X-1, located in district Sangarh, Sindh.
PPL, which is the operator of the Gambat South block, has a 65% working interest in the well – together with its joint venture partners, Government Holdings Private Limited and Asia Resources Oil Limited, which have 25% and 10% working interest, respectively – and has discovered gas and condensate.
The initial testing in the Massive Sand of Lower Goru Formation flowed 23.5 MMscfd of gas along with condensate of 91 barrels per day at FWHP of 3,260 psi on 40/64” choke.
According to the company, the well is being flowed at different choke sizes to measure the hydrocarbon flow rates.
The actual flow potential of the well will be determined after evaluating and testing other potential hydrocarbon bearing zones in the well.
PPL’s script at the bourse was trading at Rs 211.50, up by Rs 0.20, with a turnover of 316600 shares.
Two weeks ago, PPL discovered hydrocarbons from the exploratory well ‘Yasar X-1’, which is located in Sujjawal district, Sindh.
Back in July, Pakistan Petroleum, together with its joint venture partner Sindh Energy Holding Company limited, also discovered hydrocarbons from well Hub X-1, which is located in Lasbela District, Balochistan.
Earlier in March 2018, it had announced a hydrocarbon discovery at Adhi South X-1, an exploratory well in Rawalpindi.