Pakistan Petroleum Limited (PPL), a major natural gas supplier in the country, has discovered deposits of hydrocarbons in the Shah Bandar Block in the Sindh district of Sujawal.
Pakistan Petroleum Limited (PPL) shared exciting news about a gas and condensate discovery in Block 2467-16 (Shah Bandar) in Sindh Province. The discovery, called Jhim East X-1, is the second in the Shah Bandar Block.
PPL explained that they have a 63% working interest in the exploration license, with Mari Petroleum Company Limited (MPCL) holding 32%, and Sindh Energy Holding Company Limited (SEHCL) and Government Holdings Private Limited (GHPL) each having 2.5%.
The exploration well, Jhim East X-1, was drilled to a depth of 2,545 meters to test the hydrocarbon potential. During testing, it flowed 13.69 million standard cubic feet per day of gas and 236 barrels per day of condensate.
PPL highlighted that the discovery will contribute to the country’s hydrocarbon reserves and help address the energy crisis by reducing the gap between the supply and demand of oil and gas. This achievement is expected to save significant foreign exchange for the country.
The company emphasized that this success is the result of indigenous expertise, and further evaluation of the well is ongoing to gather more information about its performance.
In financial terms, PPL reported a substantial increase in its profit-after-tax (PAT), reaching Rs97.22 billion for the year ended June 30, 2023, compared to Rs54.35 billion in the same period last year.
