PPL announces oil, gas discovery in Gambat South

[farhan_9909]

Karachi - Pakistan Petroleum Limited (PPL),operator of Gambat South Block with 65 per cent working interest (WI) along with its joint venture partners Government Holdings (Private) Limited and Asia Resources Oil Limited with 25 percent and 10 percent WI, respectively, announced another gas and condensate discovery at its exploration well Faiz X-1 located in District Sanghar, Sindh. This is the sixth discovery in the block.

Exploration well Faiz X-1 was spud on October 17, 2014 and reached final depth of 3,564 meters on December 1, 2014. Based on wire line logs, potential hydrocarbon bearing zones were identified in the Basal Sand of Lower Goru Formation, which are under testing. Initial testing flowed 2,100 barrels per day (bbl/d) condensate and 11.05 MMscfd gas at 40/64 inches choke size, thus confirming the presence of condensate and natural gas at Faiz X-1. This discovery will translate into approximately 4,030 bbl/d in oil equivalent and foreign exchange saving of USD282,000 per day.The well is being flowed at different choke sizes to measure condensate and gas flow rates, following completion of which actual flow potential of the well will be determined.

PPL announces oil, gas discovery in Gambat South

 

[dil_dil]

Saving of $102 million/year, not bad.

 

[SBD-3]

The hardcore oil production would be 2100 bpd is insignificant. Even the stock market ignored the news given the oil prices are likely to touch 40$...

 

[BetterPakistan]

How much barrels of oil Pakistan is producing itself and what is the cost on which Pakistan is producing a barrel of oil?

 

[dil_dil]

How much barrels of oil Pakistan is producing itself and what is the cost on which Pakistan is producing a barrel of oil?

Pakistan produce 100,000 barrels per day, no idea about costs.

 

[niaz]

The hardcore oil production would be 2100 bpd is insignificant. Even the stock market ignored the news given the oil prices are likely to touch 40$...

This is not crude but Condensate, that is liquids associated with gas. Hydrocarbons up to Butane (C4) are gaseous, condensate consists primarily of C5, C6 & C7 with a small percentage of longer chain hydrocarbons.

This field appears to be similar to Dhodhak; basically a wet gas filed. We have to wait until estimated reserves are known before proclaiming whether this discovery is significant or not. Oil price be may be important for the stock market but for the gas starved Pakistan any addition is good news.

 

[AZADPAKISTAN2009]

We likely have huge deposits in Baluchistan but no activity there

 

[PakGuns]

The hardcore oil production would be 2100 bpd is insignificant. Even the stock market ignored the news given the oil prices are likely to touch 40$...

40$ per barrel price won't last forever...

 

[SSG-Korea]

A very Good news for Pakistan. But it is very important now that major Oil and Gas exploration in Sindh Pakistan, So Pakistani also provide chances local peoples of Sindh, rather than other province, it heart mind win strategy and very basic principal of economics too.

As I know, Pakistan already stuck with Baluchistan and it will be not try such policies in Sindh. As I know, majority in Gas and Oil companies employers, labor belonged to KPK and Punjab and it creating discrimination and anger among locals of Sindh's peoples.

Once again Good Luck Pakistan and this is your local peoples from Sindh, enhance their skills and provide them equal chance along with all ethnicity. Equality is one the true Principal should be of Pakistan and way forward for development.