AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Khairpur: United Energy Pakistan Beta (UEP Beta), together with its partners Pakistan Petroleum Limited (PPL) and Prime Pakistan Limited, announced a new gas discovery at the exploratory well Tor-1 in the Latif Block, located in Khairpur District, Sindh Province. The discovery, announced on July 2, 2024, shows a significant potential to bolster domestic energy supplies.
The Tor-1 well was initially drilled on May 5, 2024, and reached its target depth of 3,438 meters successfully. Tests conducted using Wireline logs and a Modular Formation Dynamic Tester (MDT) in the lntra-C Sand of the Lower Goru Formation confirmed the presence of gas. The well demonstrated a flow rate of 11.27 million standard cubic feet per day (MMSCFD) against a well head flowing pressure of 1,424 pounds per square inch (PSI) with a choke setting of 40/64 inches.
According to information available from the Pakistan Stock Exchange (PSX), this discovery is set to enhance the hydrocarbon reserves of the country, addressing the ongoing demands for energy and reducing the reliance on imported fuels. The exploration success underscores the capabilities of UEP Beta and its partners in contributing to the energy sector’s growth and stability.
This development is in line with the requirements set forth by Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, ensuring that such significant findings are promptly reported to stakeholders and the market.