Pakistan Petroleum : Discovery of Hydrocarbons from Exploratory Well, Mohar-1, in Latif Block
February 21, 2022 at 01:31 am EST
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Our reference: CS/PSX-0037
Your reference:
Date: 21st February 2022
Ms. Asmaa Saleem Malik
Deputy General Manager
Listing Department
Pakistan Stock Exchange Limited
PSX Building, PSX Road
Karachi
Dear Madam,
Re: Discovery of Hydrocarbons from Exploratory Well, Mohar-1, in Latif Block
We are pleased to disclose a hydrocarbon discovery from exploratory well, Mohar-1, in the Latif Block (the "Block") which is situated in the Province of Sindh.
The Company holds a 33.30% working interest; Eni Pakistan Limited holds 33.30% and UEPL, which is Operator of the Block holds 33.40% working interest in the Block.
The well was drilled and tested using the operator's internal expertise and in consultation with the Block's joint ventures partners. The well was drilled to a depth of 12,111 ft. with reservoir target of Lower Goru Sands. After completion of the well, B sand zone (11,778-11,788 ft KB) was perforated which flowed 14.3 MMscfd (million standard cubic feet per day) of gas at FWHP (well head flowing pressure) of 2730 psig (pounds per square inch) at 32/64" choke size.
The discovery is the result of an aggressive exploration strategy adopted by the joint venture partners, leading to new opportunities. The discovery will contribute in improving the energy security of the country from the indigenous resources and it will also increase the hydrocarbon reserves of the joint venture partners and the country.
The foregoing information may be disseminated to your members.
Pakistan Petroleum Limited published this content on 21 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2022 06:30:00 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 
