Overview

Overview

Pakistan Petroleum Limited (PPL) has an aggressive exploration program geared to optimize production and replenish reserves. The company has invested in acquiring state-of-the-art integrated technology and enhancing human resource competencies to achieve desired outputs and minimize risks through well-coordinated teamwork and strategic partnerships with local and international Exploration and Production companies.

Rig at Bela West X-1 Bela West Block Balochistan

PPL’s Exploration Directorate consists of three assets: North, South and Frontier. The Frontier Asset also oversees one partner-operated block in Yemen and an operated offshore block in Pakistan. In addition, New Ventures, International, Unconventional & Minerals (NVIUM) and Subsurface Technologies & Support Services (STSS) departments also fall under the domain of Exploration Directorate.

The company, together with its subsidiaries has a portfolio of 43 exploration blocks. These include 27 operated blocks, including one offshore lease in Pakistan and two international concessions, Block 8 in Iraq and offshore Block5 in Abu Dhabi besides 16 are partner-operated blocks, including Block 3 in Yemen. Furthermore, grant of Petroleum Concession Agreement is being processed for provisionally-awarded blocks, two operated and partner-operated each, acquired during Pakistan Bid Round 2022.

As such, PPL strategically holds a diversified exploration portfolio with a mix of high-risk, high-reward and low-risk, low/ medium-reward assets. Furthermore, PPL’s business cycle, as proven historically, involves initiation of production within a few years of investing in exploration, is slated to position the company in the front line to reap the benefits of rebounding oil prices.

PPL saw an exponential increase in seismic operations and exploratory drilling following the acquisition of blocks during the bid rounds 2009, 2013 and 2018. During the last decade, PPL acquired approximately 13,700 L. km 2D and about 9,800 sq. km 3D seismic together with around 27,750 L. km gravity and magnetic data in operated blocks alone. Besides, the company drilled 65 exploratory wells and made 22 discoveries in the last 10 years.

Currently, 2D & 3D seismic data is being acquired in four operated blocks besides exploratory drilling is being carried out at one well whereas preparations are under way to spud-in four exploratory wells in various operated blocks.