PPL discovers new oil and gas reserves in Sindh
By News Desk
February 13, 2024 06:39 PM
Pakistan Petroleum Limited (PPL) has made a new oil and gas discovery in the Hala region of Sindh, the company announced on Tuesday.
The discovery was made from the Adam 2 well, which is part of the Adam Block 2, a joint venture between PPL and Mari Petroleum Company.
According to a statement issued to the Pakistan Stock Exchange (PSX), the well was drilled to a depth of 3421 meters and tested 6 million cubic feet per day (Mcfd) of gas and 450 barrels per day (bpd) of crude oil.
The company said that the new discovery will be connected to the Sui Southern Gas Company network after the completion of the gas processing facilities, and will help meet the domestic demand for energy.
The company also claimed that the new discovery will save Pakistan millions of dollars annually in terms of import substitution and enhance the country's energy security.