Pakistan Petroleum : Discovery of Gas & Condensate from Shahpur Chakar North X-1 Well, in Block 2568-18 (Gambat South)
October 12, 2022 at 06:22 am EDT
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Our reference: CS/PSX-0182
Your reference:
Date: 12th October 2022
Ms. Asmaa Saleem Malik
Chief Listing Officer
Listing Department
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Dear Madam,
Re: Discovery of Gas & Condensate from Shahpur Chakar North X-1 Well, in Block 2568-18 (Gambat South)
We are pleased to disclose a gas & condensate discovery from exploration well Shahpur Chakar North X-1, in Block 2568-18 (Gambat South), located in District Sanghar, Sindh Province.
Block 2568-18 (Gambat South) EL is operated by Pakistan Petroleum Limited (PPL) with 65% working interest (WI) along with its Joint Venture Partners Government Holdings Private Limited (GHPL) and Asia Resources Oil Limited (AROL) with 25% and 10% WI, respectively.
The exploration well Shahpur Chakar North X-1 was drilled to a depth of 3,560 m to test the hydrocarbon potential of Massive Sand of Lower Goru Formation. Based on the wire line logs, potential hydrocarbon bearing zones were identified inside the target reservoirs. Initial testing in the Massive Sand (Deep) interval of Lower Goru Formation flowed 15.2 Million Cubic Feet per Day (MMSCFD) of gas along with condensate of 321 Barrels per Day (BPD) at a Flowing Wellhead Pressure (FWHP) of 3,061 psig on a 32/64" choke.
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Pakistan Petroleum Limited
This discovery will add hydrocarbon reserves of PPL and joint venture partners, contribute in reducing the energy demand and supply gap in the country, and will save significant foreign exchange for the country through indigenous hydrocarbon production.
The foregoing information may be disseminated to your members.
Pakistan Petroleum Limited published this content on 12 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2022 10:21:09 UTC.
Pakistan Petroleum Limited is a Pakistan-based company that is engaged in exploration, development and production of oil and natural gas resources. The Company's exploration and production portfolio is spread across Pakistan with an international presence in the United Arab Emirates (UAE) and Yemen. It also holds mineral rights in Balochistan through Bolan Mining Enterprises, which is a 50:50 joint operation between the Company and Government of Balochistan. It has a portfolio of around 50 exploration assets of which the Company operates 29, including an offshore Block 5 in Abu Dhabi, UAE while 21 blocks, comprising an onshore concession in Yemen, are operated by joint venture partners. It operates around 16 producing fields across the country at Sui, Adhi, Kandhkot, Chachar, Mazarani, Adam, Adam West, Shadadpur, Shahdadpur West, Shahdadpur East, Zafir, Fazal, Kabir, Hadaf, Dhok Sultan and Benari and holds working interest in 24 partner-operated producing fields, including Qadirpur.
PAKISTAN PETROLEUM LIMITED 
