ISLAMABAD – Pakistan Petroleum Limited has announced another discovery ofhydrocarbons from exploration well Talagang X-1 situated in districtChakwal Punjab, according to a notification sent to the Pakistan StockExchange (PSX) on Friday.
The company owns 100% working interest and is the operator of the Karsalblock, which is a village in district Chakwal, Punjab.
In initial testing in the Eocene carbonates of Chorgali, Sakesarformations, 313 barrels per day of hydrocarbons flowed together with aminor immeasurable quantity of gas at FWHP of 77 psi on 32/64’’ choke.
Pakistan Petroleum informed that the well is being drilled further to testthe deeper formations. The well’s entire potential will be determined afterevaluating and testing of the other potential hydrocarbon bearing zones inthe well.
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PPL’s stock price dropped 0.43%, or Rs 0.89, to trade at Rs208 with 40,900shares changing hands at the PSX.
Pakistan Petroleum Limited is a key supplier of natural gas in the country.The company is engaged in conducting exploration, prospecting, developmentand production of oil and natural gas resources. PPL has been workingaggressively towards hydrocarbons drilling.
