Pakistan Oil Fields makes a significant Oil & Gas Discovery in Ikhlas Block, Potwar

In a notice informing the Pakistan Stock Exchange, Pakistan Oilfields Lts. POL has notified the exchange of a significant Oil and Gas discovery at its Ikhlas Block, located in Northern Potwar, about Eighty three (83) Kilometers away Southwest of Islamabad in Attock District.

The company reported that the drilling of the well “Jhandial – 1” was proposed after acquisition and interpretation of the recently acquired 3d Seismic Data.

The well was dug down to Paleocene carbonate reservoirs. The drilling resulted in a production testing of significant amount of hydrocarbons at the Eocene and Paleocene formations with the following flow rates:

The API Gravity of the well has been reported to be at around 40, with Gas having a rich calorific value of 1,161 btus per standard cubic feet of gas.

The Gas composition of the find reveals it has around 86% Methane, 7.2% Ethane and 2,9% Propane.

The LPG content of the Well is around 2.5 MT per 1 mmscf of gas.

The Company expects the well to be added to the production line within in two weeks.

Pakistan Oilfields POL holds 80% share in the concerned well, with remaining 20% held by Attock Oil Company.