KARACHI: Pakistan Petroleum Limited (PPL) made another gas and condensate discovery at its exploration well Faiz X-1 Sanghar district, Sindh.
This is the fifth discovery in the block after Wafiq, Shahdad, Sharf and Kinza gas and condensate discoveries.
PPL is the operator of Gambat South Block with a 65% working interest along with joint venture partners Government Holdings (Private) Limited and Asia Resources Oil Limited with 25% and 10% working interest respectively.
Exploration well Faiz X-1 was drilled on October 17 and reached its final depth of 3,564 metres on December 1.
Initial tests flowed 8.46 million cubic feet of gas per day (mmcfd) along with 115 barrels per day (bpd) of condensate, confirming presence of commercial quantities of natural gas and condensate. This discovery will translate into approximately 1,300 bpd in oil equivalent and lead to foreign exchange savings of $78,000 per day. The well is flowing at different choke sizes to measure the gas flow rates, following which the actual potential will be determined.
In August, the company announced the discovery of 42 mmcfd of gas in Gambat South, its third and biggest discovery in the block. At the time, PPL said it was expecting the production to go up to 60 mmcfd.
It made the first two discoveries in Gambat last year.
Last month, another producing well was discovered in the Hala block, located in Sanghar and Matiari districts, Sindh.
The company said it could produce 18.6 mmcfd of gas and 31 bpd of condensate from exploratory well Adam West X-1.
Hala block is a joint venture between PPL and Mari Petroleum Company, with 65% and 35% working interest respectively. It covers as area of about 395 square kilometres.
PPL currently produces 10 mmcfd of gas and 150 bpd of condensate from another well in the Hala block.
PPL, which has a portfolio of 47 exploration blocks, has been aggressively searching for new hydrocarbon reserves since last year to compensate for the decrease in production from its established fields like Sui.
State-run PPL had earmarked Rs10 billion for exploration activities during the last fiscal year with a major focus on Gambat South. The company accounts for 22% of the country’s gas production. In fiscal year 2013-14, it posted a profit of Rs51.41 billion, up 23% over the previous year.
The company has been trying to reduce the depletion rate of its fields by installing compressor plants and drilling more wells. It has six producing fields including Sui, Kandhkot, Adhi, Mazrani, Chachar and Hala and has working interest in eight partner-operated fields.
Published in The Express Tribune, December 19th, 2014.
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The loot and plunder of our homeland continues.
Discovery's announcement timing somewhat skeptical.........
I was part of it. Feeling blessed Alhamdulillah :-)