Pakistan Petroleum Limited (PPL) has discovered oil and gas reserves at Shah Bandar Block in Sujawal district of Sindh.
“We are pleased to disclose that Pakistan Petroleum Limited (PPL) has made a gas and condensate discovery from exploration well Jhim East X-1, in Shah Bandar Block, located in District Sujawal, Sindh Province,” read the company’s notice to the Pakistan Stock Exchange (PSX) on Monday.
The exploration well Jhim East X-1 was drilled to a depth of 2,545 meters to test the hydrocarbon potential of Upper Sand of Lower Goru Formation.
“During testing of Lower Goru Upper Sand, 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 (whfp) of 2,668 psig at 32/64” choke, “added the notice.
PPL shared that the well is being further evaluated to get the necessary information about its performance. It added that the well was drilled and tested by utilizing indigenous expertise.
“This discovery will add hydrocarbon reserves and also enable the energy sector to reduce the gap between the supply and demand of oil and gas during the current energy crisis in the country and will save significant foreign exchange for the country,” PPL said.
The company shared that this is the second discovery of hydrocarbon reserves in the Shah Bandar Block.
PPL shared that the Block 2467-16 (Shah Bandar) exploration license is operated by itself with 63% working interest (WI) along with joint venture partners Mari Petroleum Company Limited (MPCL) with 32% WI, Sindh Energy Holding Company Limited (SEHCL) and Government Holdings Private Limited (GHPL) with 2.5% WI each.