PPL discovers gas in Naushahro block

[farhan_9909]

KARACHI: The Pakistan Petroleum Limited (PPL) announced discovery of gas from Exploration Well, Naushahro Firoz X-1 in Naushahro Firoz Block, Sindh.

In a filing with the stock exchange on Wednesday, under the disclosure of ‘insider information’ in terms of section 15D(1), the PPL reminded that it holds 90 per cent working interest in the well.

M Mubbasshar Siddique, company secretary for PPL, stated that the exploration well at Naushahro Firoz X-1 was drilled down to target depth of 3,773m(MD) within Chiltan Formation.

Based on gas shows encountered during drilling and wire line logs evaluation, a cased hole drill stem test (CHDST) was carried out.

The PPL informed that after acidization, the well flowed good quality gas at variable rates with the maximum of 11.2mmscfd with a flowing wellhead pressure of 2,635psi and a minimum of 1.7mmscfd with a flowing well head pressure of 375psi at a choke size of 32/64 inches.

PPL observes: “Preliminary analysis of the test data suggests the discovery to be the tight gas. However, further evaluation is required to determine the nature and commerciality of the discovery based on the geological, geophysical and engineering data collected during the drilling and testing of the well and also by drilling of additional well(s)”.

PPL discovers gas in Naushahro block - DAWN.COM

@niaz

 

[FunkyGen]

Technical hooha aside, am i right to infer that a pakistani company has discovered significant gas reserves in pakistan?

 

[surya kiran]

Something big was coming in PPL seems to have been known. The insider trading started on 28 February or on 1st March to buy the stock.

 

[FunkyGen]

Something big was coming in PPL seems to have been known. The insider trading started on 28 February or on 1st March to buy the stock.

Mere sawal ka jawab

 

[niaz]

Most oil find finds in the Indus basin are in the Cretaceous zone that is between 60 million to about 140 million years old rock structures. Chiltan formation in the lower Indus basin is mid Jurassic that is about 180- 200 million old lime stone.

There have been previous hydrocarbon finds in the Jurassic rocks in Pakistan. Attock Oil Company struck oil in 1951 from the Palaeocene (about 60 million old) shelf carbonate at Dhulian. Later another pay zone was discovered in 1960 in the deeper 150-million old Jurassic formation. Dhulian oil field near Pindi gheb dried up in 1983 after the recovery of about 40-million barrels of oil from Eocene, Palaeocene and Jurassic structures.

Don’t know why it is being called ‘Tight gas’. To the best of my understanding ‘Tight gas’ needs horizontal drilling while this appears to be a straight forward gas strike. However it is too early to speculate, let us wait & see size of the reservoir. Hope it is at least 1 TCF or more.

 

[CrazyPaki]

Most oil find finds in the Indus basin are in the Cretaceous zone that is between 60 million to about 140 million years old rock structures. Chiltan formation in the lower Indus basin is mid Jurassic that is about 180- 200 million old lime stone.

There have been previous hydrocarbon finds in the Jurassic finds in Pakistan. Attock Oil Company struck oil in 1951 from the Palaeocene (about 60 million old) shelf carbonate at Dhulian. Later another pay zone was discovered in 1960 in the deeper 150-million old Jurassic formation. Dhulian oil field near Pindi gheb dried up in 1983 after the recovery of about 40-miilion barrels of from Eocene, Palaeocene and Jurassic structures.

Don’t know why it is being called ‘Tight gas’. To the best of my understanding ‘Tight gas’ needs horizontal drilling while this appears to be a straight forward gas strike. However it is too early to speculate, let us wait & see size of the reservoir. Hope it is at least 1 TCF or more.

If it turns out to be tight gas then the price of extraction will probably go up as well.

 

[niaz]

Technical hooha aside, am i right to infer that a pakistani company has discovered significant gas reserves in pakistan?

There have been Pakistani companies engaged in exploration and drilling for oil & gas in Pakistan for a long time such as OGDC which started in 1961. Please don't underestimate Pakistani origin Geologists & Engineers.

It is however normal in the oil exploration to have ‘Farming in’ or Farming out’ agreements whereby after obtaining the licence to exploit you enter into joint ventures with companies specializing in drilling; mainly for economic reasons. For example:

Oil and gas: OGDCL, MOL ink agreement in E&P - PakTribune

Therefore unless you have inside track in the company it is difficult to be certain as to who is physically drilling for oil/gas.

Many people may have forgotten but not old timers like me. PPL started in the 1950 with majority share ownership of Burmah Oil Company. PPL’s first major discovery was Sui Gas in 1952. In 1997 BOC decided to disinvest from Pakistan and GOP took over BOC share ownership. To the best of my info PPL is now owned by GOP & her employees with some public shareholding and it is a now a fully Pakistani company.