Karachi: Pakistan Petroleum Ltd (PPL) announced on Monday that it had discovered oil gas reserves in Sindh and Balochistan, according to a news source. It revealed this information in a series of notices to the Pakistan Stock Exchange (PSX), which included the details regarding these discoveries.
The first bit of information provided details about hydrocarbon discovery in exploratory well, Bitro-I in Latif Block, Khairpur District, Sindh. These reserves were discovered by the Joint Venture Partners of the Latif Exploration License, with the company holding a 33.3% working interest in the block.
The second notice to the PSX was related to the hydrocarbon discovery in Margand X-I, Margand Block, the first exploratory well. This well is completely owned by the company hence it has 100% shares in it.
PPL representative stated that this was the first gas reserve to be discovered in the Kalat Plateau. Margand X-I, located in Kalat, Balochistan, has reached a depth of 4,500 metres inside Chiltan limestone. Modular Dynamics Testing (MDT) determined the presence of hydrocarbons, and now, tests are being conducted to ascertain the liquid’s nature.
