PPL hits third discovery

Bangladesh: Third discovery

State-owned oil & gas player Pakistan Petroleum (PPL) has announced its third gas discovery at the Gambat South exploration block located in the Sanghar district of the Sindh province.

The company said that the exploration well Sharf X-1 drilled to a final depth of 3730 metres has discovered hydrocarbons.

"During the initial testing the well flowed upto 42 million cubic feet per day of gas along with 199 barrels per day of condensate at 64/64" choke size," PPL said in a filing to the Karachi Stock Exchange.

Gas discoveries have earlier been reported in the Wafiq X-1 and Shahdad X-1 exploration wells, drilled in the Gambat South block.

As the operator of the Gambat South exploration block, PPL has a 65% stake. Government Holdings Private (GHPL) and Asia Resources Oil (AROL) are the block partners with 25% and 10% working interest respectively, according to local reports.

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