Pakistan Petroleum Limited has made a discovery of hydrocarbons from an exploratory well in Sindh.
In a notice sent to the Pakistan Stock Exchange (PSX), the state-owned multinational petroleum company disclosed the discovery of hydrocarbons from an exploratory well, Jugan-1, in the Latif Block situated in Sindh.
The well was drilled and tested with the operator’s internal expertise, and in consultation with the block’s joint venture partners.
Pakistan Petroleum Limited (PPL) holds a 33.3 percent working interest in the block, while Eni Pakistan Limited holds 33.3 percent, and United Energy Pakistan Limited (UEPL) holds a 33.4 percent interest in the block.
“The well was drilled to a depth of 11,350 ft. with reservoir target as Lower Goru Sands,” the notice stated.
PPL said that after it completed the construction of the well, the B sand zone (11,122-11,132 ft KB) was perforated, which flowed 12.6 MMscfd (million standard cubic feet per day) of gas at FWHP (well head flowing pressure) of 3063 psig (pounds per square inch) at 28/64″ choke size.
It added that it followed this up with B Sand testing, after which the C sand zone (10,300’KB – 10,310’ KB) was also perforated, which flowed 13.7 MMscfd (million standard cubic feet per day) of gas at FWHP (well head flowing pressure) of 3323 psig (pounds per square inch) at 28/64″ choke size.
PPL said that the discovery is “the result of an aggressive exploration strategy” that aims to find new opportunities.
“The discovery will contribute in improving the energy security of the country from indigenous resources and it will also increase the hydrocarbon reserves of the joint venture partners and the country,” the petroleum company added.
Last week, PPL led a consortium of exploration and production companies to secure exploration rights for an offshore block in Abu Dhabi, a deal that involves an investment of $304.7 million.