*KARACHI: *State-owned Pakistan Petroleum Limited (PPL) has emerged as thefirst Pakistan-based oil and gas exploration firm to have gone global as ithas started drilling a well in Iraq, where gas deposits of 200-300 millioncubic feet per day (mmcfd) are expected to be found.
PPL, the operator of Block 8 in Iraq, drilled the exploration well namedMadain-1 on April 14, 2019. The block is located in the Mesopotamian basinand “it is surrounded by areas that have several large oil and gas fields”,the exploration firm stated in a notification sent to the Pakistan StockExchange (PSX) on Tuesday.
The well, which was being drilled on an integrated project management basisby a Chinese drilling contractor, Zepec, marked a significant milestone inthe company’s history as its first international exploration well, thecompany said.
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“Notably, the company is also the first Pakistani oil and gas explorationand production company to have a footprint as an operator on theinternational oil and gas map,” it said.
