Pakistan Petroleum Makes Gas and Oil Discovery in Sindh

Pakistan Petroleum Limited (PPL) has made a gas/condensate discovery resulting from its exploratory efforts at Shahpur Chakar North X-1 Well drilled in Gambat South Block 2568-18, located in District Sanghar, Sindh.

PPL is the operator of Gambat South Block, with 65 percent working interest along with the Government Holdings Private Limited (GHPL) and Asia Resources Oil Limited (AROL) as joint venture partners with 25 percent and 10 percent working interest respectively, according to a stock filing.

The well was drilled down to a depth of 3,560m to test the hydrocarbon potential of the Massive Sand of Lower Goru Formation. Based on the wire line logs, potential hydrocarbon-bearing zones were identified inside the target reservoirs.

Initial testing flowed gas at the rate of around 15.2 MMSCFD with a Wellhead Flow Pressure (WHFP) of 3,061 psig and around 321 BPD condensate at 32/64 inch choke size (pre-acid).

  • But PPL has greatly disappointed it’s share holders with paltry pay out of Rs.2.50 dividend only as against Rs 19 per share net profit Further it’s shares used to be traded at Rs 350/- per share have gone down to Rs. 57/- only. So PPL performance to it’s stakeholders is reflected here.

    This samecnews of exploration is repeating again and again to show as some new discoveries while it is old story and could not be said whether right or false

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