Karachi, November 15, 2024 – Pakistan Petroleum Limited (PPL), a leading oil and gas exploration company, has announced a significant hydrocarbon discovery from its Pateji X-1 well in the Shah Bandar block, located in Sujawal district, Sindh.
The development was shared in a notice to the Pakistan Stock Exchange (PSX) on Friday, marking it as the third consecutive discovery in the Shah Bandar block by PPL.
“We are pleased to disclose that a gas/condensate discovery has been made from the exploration well Pateji X-1,” the company stated.
Details of the Discovery
PPL operates the Shah Bandar block with a 63% working interest, while its joint venture partners include Mari Petroleum Company Limited (MARI) with 32%, Sindh Energy Holding Company Limited (SEHCL) with 2.5%, and Government Holdings (Private) Limited (GHPL) also holding 2.5%.
The Pateji X-1 well was spudded on October 11, 2024, and drilled to a depth of 2,475 meters. The objective was to explore the hydrocarbon potential in the upper sands of the Lower Goru formation.
Based on drilling results and wireline logs data, hydrocarbon-bearing zones were identified. During testing, the well flowed 11.7 million standard cubic feet per day (mmscfd) of gas and 198 barrels per day of condensate at a wellhead flowing pressure of 2,578 psig.
A Boost to Energy Reserves
The discovery is expected to significantly contribute to the country’s energy reserves, reducing reliance on imported energy and helping mitigate Pakistan’s energy crisis. PPL emphasized that this indigenous hydrocarbon production would save valuable foreign exchange and bolster the local energy sector.
Local Expertise and Success
The company highlighted that the well was drilled and tested using local expertise, showcasing the capabilities of Pakistan’s exploration and production sector.
Recent Performance and Context
The announcement comes a month after PPL commenced hydrocarbon production from the Adhi South-9 well in Punjab’s Pothwar region. Despite these successes, the company’s profit-after-tax for the quarter ended September 30, 2024, saw a 24% decline, standing at Rs22.69 billion.
PPL’s continued efforts to enhance domestic hydrocarbon production align with the broader goal of reducing Pakistan’s energy deficit and reliance on costly imports. The Pateji X-1 discovery reinforces the importance of sustained exploration initiatives in addressing the nation’s energy needs.
