Oil and Gas reserves have been discovered from exploration well Talagang X-1 located in the Chakwal district, Punjab. According to a notification sent to the Pakistan Stock Exchange (PSX), Pakistan Petroleum Limited has confirmed the discovery of hydrocarbons.
100% working interest is owned by the company and it is the operator of the Karsal block, which is basically a village in Chakwal district.
313 barrels a day of hydrocarbons flowed with a small incalculable gas quantity at FWHP of 77 psi on 32/64’’ choke in the initial testing in Eocene carbonates formations of Chorgali, Sakesar.
It has been informed by Pakistan Petroleum that the well is being drilled more for deeper formations test. The entire potential of the well will be analyzed after other possible hydrocarbon-bearing zones are evaluated and tested.
Pakistan Petroleum Limited (PPL) stock price decreased by 0.43%, or Rs 0.89 traded at Rs208 with 40,900 shares changing hands at the Pakistan Stock Exchange (PSX).
The main supplier of natural gas in Pakistan is Pakistan Petroleum Limited. PPL is focused on searching, mining, developing and producing oil and gas resources.