Pakistan Petroleum Limited disclosed that it has made a hydrocarbon discovery from exploratory well, Mohar-1, in the Latif Block (the “Block”) in Sindh, in a notice sent to the Pakistan Stock Exchange (PSX) on Monday.
PPL holds a 33.30% working interest, Eni Pakistan Limited holds 33.30% and United Energy Pakistan Limited (UEPL), formerly known as BP Pakistan, which is an operator of the block, holds the remaining 33.40% working interest in the block.
“The well was drilled and tested using the operator’s internal expertise and in consultation with the Block’s joint ventures partners. The well was drilled to a depth of 12,111 ft. with reservoir target of Lower Goru Sands,” read the statement.
PPL said that after completion of the well, B sand zone (11,778-11,788 ft KB) was perforated which flowed 14.3 MMscfd (million standard cubic feet per day) of gas at FWHP (well head flowing pressure) of 2730 psig (pounds per square inch) at 32/64” choke size.
PPL made a similar discovery of hydrocarbons was made back in September last year, from exploratory well, Jugan-1, in the Latif Block (the “Block”) in Sindh.
In October, Oil and Gas Development Company Limited (OGDCL) being operator of Jandran West Exploration License with 100% working interest has made a gas discovery over Mughalkot Formation from its exploratory efforts at Jandran West X-1 well located in Kohlu District, Balochistan province.
Meanwhile, PPL said that the discovery is the result of an aggressive exploration strategy adopted by the joint venture partners, leading to new opportunities.
“The discovery will contribute in improving the energy security of the country from the indigenous resources and it will also increase the hydrocarbon reserves of the joint venture partners and the country,” it added.
Facing depleting local gas reserves, the South Asian economy increasingly relies on imported LNG to meet its energy needs. Last week, the Senate passed the Weighted Average Cost of Gas (WACOG) bill and Oil and Gas Regulatory Authority (Amendment) bill, 2022, to address gas shortage issues.