KARACHI: Pakistan Petroleum Ltd (PPL) announced two discoveries on Monday.
A notice to the PSX informed of hydrocarbon discovery in exploratory well, Bitro-I, in Latif Block located in Khairpur District, Sindh, by the Joint Venture Partners of the Latif Exploration Licence.
The company holds 33.30pc working interest in the block.
The second notice to the exchange related to hydrocarbon discovery in the first exploratory well, Margand X-I, in Margand Block (2866-4) that is operated by the company and holds 100pc interest in it.PPL SAID THAT IT WAS THE FIRST DISCOVERY IN THE KALAT PLATEAU.MARGAND X-1, LOCATED IN DISTRICT KALAT IN BALOCHISTAN, WAS SPUD ON JUNE 30 AND REACHED A DEPTH OF 4,500 METERS (MEASURED DEPTH) INSIDE CHILTAN LIMESTONE.
On the basis of wire line logs, Modular Dynamics Testing (MDT) was carried out which proved the presence of hydrocarbons.
Based on wire line and MDT results, the Drill Stem Test (DST) was conducted in the Chiltan Limestone. During DST, the well flowed 10.7 million cubic feet per day gas at 64/ 64 inches choke size with flowing well head pressure of ~ 516 pounds per square inch (Psi) with 132 barrels per day liquid.
The nature of liquid is being investigated. The well has potential to flow at higher rates after acid stimulation job.
