PPL finds new gas deposits in Jamshoro

Discovery will help increase energy supply, reduce energy crisis in the country

KARACHI: Pakistan Petroleum Limited (PPL) has found new gas deposits at the exploration well Unarpur-1 ST-1 in the Kotri North block in Jamshoro district, Sindh, according to a bourse filing on Tuesday.

After completion of drilling at the well, a zone from 12,578 feet to 12,644 feet was perforated in the Lower Basal Sand that “flowed approximately 18.5 million cubic feet per day (mmcfd) of gas,” PPL Company Secretary Shahana Ahmed Ali said in a notification to the Pakistan Stock Exchange (PSX).

PPL holds 40% working interest in the block. United Energy Pakistan Limited enjoys 50% working interest and the remaining 10% working interest is owned by Asia Resources Oil Limited, according to the announcement.



PPL’s share price dropped 0.58%, or Rs0.95, and closed at Rs159.30 with trading in 286,000 shares at the PSX.

The well also showed a flow of approximately 54 barrels of water per day, it said. Unarpur-1 ST-1 was drilled on November 2, 2018 and the drilling reached a depth of 12,920 feet to test hydrocarbon potential of the Lower Basal Sand of the Lower Goru Formation. Based on drilling results, the Completion Integrity Test was conducted in the promising zone, which confirmed the presence of hydrocarbons in the Lower Basal Sand.

“This discovery will add more hydrocarbon reserves and will help in increasing energy supply and reducing energy crisis in the country,” the company secretary said in the notification.

At present, Pakistan faces an acute gas deficit and has increased reliance on imported gas - liquefied natural gas - in the past few years. It meets over 70% of energy needs including petroleum oil through imports.

Published in The Express Tribune, May 8^th, 2019.

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