Petroleum Exploration Limited (PEL) announces huge oil and gas discovery
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ISLAMABAD: (APP) The Petroleum Exploration (Private) Limited (PEL), a private sector Pakistani Company, Wednesday announced a discovery of oil and gas reservoir in its Badin-IV South Block at Ayesha North-I Well in Sindh province.
"The company discovered significant quantities of gas and condensate in Badin," said a press release.
Based on wireline logs and testing, initially the well flowed 8.1 mmcfd (million cubic feet per day) of good quality natural gas with 49 bpd (barrel per day of condensate from "A" Sand Unit of Upper Sands with pressure of 648 (psig), it added.
The company has expressed confidence that the discovery would help increase the hydrocarbon reservoirs in the country and have positive impacts on the national economy.
