ISLAMABAD: Pakistan Petroleum Limited (PPL) announced on Friday that they have discovered another oil and natural gas reserve in Sanghar, Sindh.
According to reports, this is the sixth discovery in the same exploration block and is estimated to produce 2,100 barrels per day of condensate and 11.05 million cubic feet per day (mmcfd) of natural gas.
The country’s second largest oil and gas producer estimated that approximately valued at $282,000 per day or 4,030 barrels of oil equivalent could be produced.
Interestingly, it is the same well from where the company had earlier found 8.5mmcfd of gas and 115bpd of condensate in a different formation.
The cumulative gas production from all the six wells was expected 80mmscfd, translating into approximately 11,430bpd in oil equivalent, valued in foreign exchange at $1.1 million per day ($400 million a year).
Earlier, Pakistan’s state-owned Oil and Gas Development Company (OGDCL) had made discovery of large reserves of oil and gas in Attock district of Punjab province.
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