Pakistan Petroleum Ltd spuds the first international exploration well in Block 8, Iraq

MG News | April 16, 2019 at 10:02 AM GMT+05:00

0:00

April 16, 2019 (MLN): Pakistan Petroleum Limited, who is the operator of Block 8 in Iraq, spud the first exploration well, Madain-1. The block is located in Mesoptamian basin and it is surrounded by areas that have several large oil and gas fields.

The well, which is being drilled on an integrated project management basis by a Chinese drilling contractor, ZEPEC, marks a significant milestone in the Company’s history as its first exploration well, says a recent notification issued by the Company to the Pakistan Stock Exchange (PSX).

Notably the Company is also the first Pakistani oil and gas exploration and production Company to create a footprint as an operator on the international oil and gas map.

The Madain-1 prospect was matured with the help of a 3D seismic survey carried out by the Company over a 300 square kilometer area of the block that spans around 6000 square kilometer. There are multiple reservoir targets in Madain-1 that will be drilled through to a depth of approximately 5000 meters.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	155,384.51 274.67M	0.61% 944.82
ALLSHR	95,133.57 856.28M	0.49% 465.41
KSE30	47,466.99 137.10M	0.74% 347.09
KMI30	227,645.22 99.71M	0.67% 1519.50
KMIALLSHR	63,888.06 353.11M	0.50% 319.01
BKTi	41,761.78 72.20M	0.33% 138.95
OGTi	31,619.14 7.57M	0.41% 130.35

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	115,220.00	117,240.00 114,940.00	-2045.00 -1.74%
BRENT CRUDE	67.14	67.52 66.78	0.15 0.22%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-1.20 -1.41%
ROTTERDAM COAL MONTHLY	93.00	0.00 0.00	0.05 0.05%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	62.90	63.24 62.52	0.21 0.34%
SUGAR #11 WORLD	15.90	15.98 15.80	0.11 0.70%