Karachi, Pakistan Petroleum Limited informed Pakistan Stock Exchange That the Company holds a 33.30% working interest; Eni Pakistan Limited holds 33.30% and UEPL, which is operator of the Block, holds 33.40% working interest in the Block.
The well was drilled and tested using the operator’s internal expertise and in consultation with the
Block’s joint ventures partners.
The well was drilled to a depth of 11,350 ft. with reservoir target as Lower Goru Sands. After completion of well, B sand zone (11,122-11,132 ft. KB) was perforated which flowed 12.6 MMscfd (million standard cubic feet per day) of gas at FWHP (well head flowing pressure) of 3063 psig (pounds per square inch) at 28/64″ choke size. Followed by B Sand testing, C sand zone (10,300’KB – 10,310′ KB) was also perforated which flowed 13.7 MMscfd (million standard cubic feet per day) of gas at FWHP (well head flowing pressure) of 3323 psig (pounds per square inch) at 28/64″ choke size.
Pakistan Petroleum Limited was incorporated in Pakistan in 1950 with the main objectives of conducting exploration, prospecting, development and production of oil and gas resources. The company has also established a wholly-owned subsidiary, PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands. The subsidiary will focus on exploration and production of oil and gas in the region. PPL has assigned its interest in Block 8, Iraq, under the Exploration, Development and Production Service Contract with Midland Oil Company, Iraq to PPL Asia E&P B.V.
The total number of shares are 2,720,967,548. The Earnings per share is 18.47 in 2020 which was 22.65 in 2019. The Profit After Taxation is 50,256,270,000 in 2020 which was 61,632,364,000 in 2019.
