AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Kohat: Pakistan Petroleum Limited (PPL) has announced the discovery of hydrocarbons at the Razgir-1 exploratory well in the TAL Block, located in the Kohat district of Khyber Pakhtunkhwa Province. The well, operated by MOL Pakistan Oil and Gas Co. B.V., is part of a joint venture that includes Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), and Government Holdings (Private) Limited (GHPL).
According to information available from the Pakistan Stock Exchange (PSX), the exploratory well was spud on January 9, 2024, and achieved its target depth of 3,950 meters. The discovery was confirmed through wireline logs interpretation, which indicated a substantial yield of 20 million standard cubic feet per day (MMSCFD) of gas and 250 barrels per day (BPD) of condensate. This output was tested at a choke size of 40/64 inches, producing a wellhead flowing pressure of 2,348 pounds per square inch (psi).
This significant find not only augments the indigenous hydrocarbon reserves of the country but also marks a pivotal development for PPL and its joint venture partners. The discovery de-risks further exploratory activities in the TAL Block, potentially unlocking new prospects and enhancing the energy supply landscape of Pakistan.
The disclosure of this discovery complies with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, aimed at informing stakeholders and bolstering transparency within the market.