Pakistan Petroleum Limited (PPL), the country’s leading exploration and production company, has made a gas and condensate discovery in the Shah Bandar Block in Sindh Province.
This is the second discovery in the block, which is operated by PPL with a 63% working interest, along with joint venture partners Mari Petroleum Company Limited, Sindh Energy Holding Company Limited, and Government Holdings Private Limited, the PPL announced in a stock filing on Pakistan Stock Exchange (PSX) on Monday.
The discovery was made from the exploration well Jhim East X-1, which was drilled to a depth of 2,545 meters to test the hydrocarbon potential of the Upper Sand of the Lower Goru Formation.
The well flowed 13.69 million standard cubic feet per day of gas and 236 barrels per day of condensate at a wellhead flowing pressure of 2,668 pounds per square inch. The well is being further evaluated to assess its performance and reserves.
The discovery will add to the hydrocarbon reserves of the country and help reduce the gap between the supply and demand of oil and gas. It will also save significant foreign exchange for the country by reducing the import of energy.
PPL has been operating in Pakistan since 1950. It has a diversified portfolio of oil and gas assets, both onshore and offshore, and has made over 100 discoveries, including seven in the last fiscal year.