December 24, 2024 (MLN): Pakistan Petroleum Limited (PSX: PPL) and its joint venture partners, United Energy Pakistan Limited and Asia Resources Oil Limited, have successfully discovered hydrocarbons in the Kotri North Block located in District Jamshoro, Sindh, according to the company's statement issued today.
The discovery was made at the exploratory well Takri-1, with hydrocarbons flowing at an estimated rate of 2.4 million standard cubic feet per day (MMscfd).
United Energy Pakistan Limited operates the well with a 50% working interest, while Pakistan Petroleum Limited holds 40%, and Asia Resources Oil Limited owns the remaining 10%.
The Takri-1 well, spudded on November 11, 2024, was drilled to a depth of 4,156 feet to assess the hydrocarbon potential of Late Cretaceous/Early Paleocene Sands.
Modular Dynamic Testing (MDT) confirmed the presence of hydrocarbons within the interbedded sandstones of the Khadro Formation (Paleocene Age).
The well was subsequently perforated and completed in the Khadro Formation, with hydrocarbons tested at a flowing wellhead pressure of 1,053 psig using a 20/64-inch choke.
The discovery at Takri-1 has opened a new frontier for exploring the hydrocarbon potential of Paleocene Khadro sands in the region.
It is expected to add additional hydrocarbon reserves, mitigate the country's energy crisis, and conserve foreign exchange through local hydrocarbon production.
