The existing PPL exploration strategy is formulated with emphasis on frontier areas to improve the company’s reserves replenishment ratio. Since, Indus sedimentary Basin, is in a mature phase of exploration wherein large, easy-to-find discoveries have already been made, and relatively small and complex prospects with limited prospective resources and limited economic returns are remaining. Against this backdrop, exploring the frontier areas of Balochistan Basin and offshore Pakistan remains a viable option for reserves replenishment and Company’s growth. These areas, although being high risk and high cost, are considered to have potential for large discoveries. The aggressive exploration strategy of PPL in frontier areas to test new plays has resulted in the discovery of Morgandh X-1 well, located in the Kalat Plateau, which has opened a new sub-basin for exploration in a frontier area. Further exploration in this sub-basin will significantly help in replenishment of the company’s produced reserves.
The current portfolio of Frontier Asset comprises of 11 operated exploration licences mainly located in Balochistan Province and seven partner-operated exploration licences, including two blocks in Indus Offshore and an international onshore lease in Yemen. Company is pursuing an aggressive exploration program in these frontier blocks, whereby it has completed / planned to conduct gravity, magnetic and seismic surveys and drilled/ planned to drill ample number of exploration wells, which is unprecedented in the history of PPL and Pakistan.