Pakistan Petroleum Limited has announced another discovery of hydrocarbons from exploration well Talagang X-1 situated in district Chakwal Punjab, according to a notification sent to the Pakistan Stock Exchange (PSX) on Friday.
The company owns 100% working interest and is the operator of the Karsal block, which is a village in district Chakwal, Punjab.
In initial testing in the Eocene carbonates of Chorgali, Sakesar formations, 313 barrels per day of hydrocarbons flowed together with a minor immeasurable quantity of gas at FWHP of 77 psi on 32/64’’ choke.
ALSO READ
PPL Makes Another Hydrocarbon Discovery in Sindh
Pakistan Petroleum informed that the well is being drilled further to test the deeper formations. The well’s entire potential will be determined after evaluating and testing of the other potential hydrocarbon bearing zones in the well.
PPL’s stock price dropped 0.43%, or Rs 0.89, to trade at Rs208 with 40,900 shares changing hands at the PSX.
Pakistan Petroleum Limited is a key supplier of natural gas in the country. The company is engaged in conducting exploration, prospecting, development and production of oil and natural gas resources. PPL has been working aggressively towards hydrocarbons drilling.
soon this company will be finished because oil will be banned in 2040
2040 isn’t ‘soon’.
We produce more than 40% oil of our consumption from within the country. Yet we price it as per international ups and downs in rates.
Pakistanis live in fool’s paradise.