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MarketScreener Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Pak PetroleumXDXB    PPL   PK0081801018

PAK PETROLEUMXDXB

(PPL)
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Pak PetroleumXDXB : Offshore drilling near Karachi coast enters final phase

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05/13/2019 | 05:28am EDT

The Kekra-I offshore drilling near Karachi coast has entered its final phase. According to Radio Pakistan, Minister for Petroleum OmarAyub Khan and Special Assistant to the Prime Minister on Petroleum Nadeem Babar visited the offshore Indus GBlock called Kekra-I, off the Karachi coast, and reviewed pace of drilling activities. In a joint venture, a group of multinational companies, including ENI, Exxon Mobil, Oil and Gas Development Company Limited and Pakistan Petroleum Limited, started offshore drilling, some 280 kilometres away from the Karachi coast, in January 2019. The offshore drilling is being carried out at estimated exploration cost of 75 million dollars. Last week, Federal Minister for Energy Omar Ayub Khan had said that the report on any discovery of energy reserves at Kekra-I site will come within three to four weeks. The drilling will reach up to the total depth of 5,660 meters in ultra deep waters, the minister said. Recently international energy research agency Rystad Energy in a report had said that the Eni-led Kekra project for oil and gas reserves in Pakistani waters is among three highly prospective wells in the world.

© Pakistan Press International, source Asianet-Pakistan

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Financials (PKR)
Sales 2019 154 B
EBIT 2019 68 369 M
Net income 2019 56 297 M
Debt 2019 -
Yield 2019 6,39%
P/E ratio 2019 6,18
P/E ratio 2020 6,12
Capi. / Sales 2019 2,31x
Capi. / Sales 2020 2,16x
Capitalization 357 B
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 208  PKR
Spread / Average Target 32%
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Managers
NameTitle
Moin Raza Khan Chief Executive Officer & Managing Director
Salman Akhtar Chairman
Syed Ehtesham Ahmad Chief Financial Officer
Mohammad Ahmed Kauser General Manager-Information Technology
Muhammad Sajid Farooqi Independent Non-Executive Director
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