Pakistan Petroleum Limited (PPL) has discovered hydrocarbon deposits from the exploration well Unarpur-1 ST-1 in the Kotri North Block situated in district Jamshoro, Sindh.

This discovery was made by the joint venture partners of the Exploration License of the block, i.e. United Energy Pakistan Limited, holding a 50% working interest; Pakistan Petroleum Limited, holding a 40% working interest; and Asia Resources Oil Limited, with a 10% interest.

According to the notification sent to the PSX, Unarpur-1 ST-1 was spud on November 2, 2018, and drilled to a total depth of 12,920 feet to test the hydrocarbon potential of the Lower Basal Sand of the Lower Goru Formation.

Based on wireline logs and drilling results, a Completion Integrity Test was done in the zone, which confirmed hydrocarbons in the Lower Basal Sand.

“After completion of the well, a zone from 12,578 feet to 12,644 feet was perforated in the Lower Basal Sand that flowed approximately 18.5 million cubic feet per day of gas and approximately 54 barrels per day of water with a flowing well head pressure of 1916 psi at 44/64” choke,” said PPL in a statement issued to the Pakistan Stock Exchange (PSX) on Tuesday.

This discovery will add more hydrocarbon reserves for Pakistan and it will help in increasing energy supply and reducing the energy crisis in the country.

PPL’s script at the bourse closed at Rs. 159.30, which was down by Rs. 0.24 with a turnover of 286,300 shares on Tuesday.