PPL announces sixth discovery in Gambat South 

KARACHI, December 26, 2014: Pakistan Petroleum Limited (PPL), operator of Gambat South Block with 65 percent working interest (WI) along with its joint venture partners Government Holdings (Private) Limited and Asia Resources Oil Limited with 25 percent and 10 percent WI, respectively, announced another gas and condensate discovery at its exploration well Faiz X-1 located in District Sanghar, Sindh. This is the sixth discovery in the block.

Exploration well Faiz X-1 was spud on October 17, 2014 and reached final depth of 3,564 meters on December 1, 2014. Based on wire line logs, potential hydrocarbon bearing zones were identified in the Basal Sand of Lower Goru Formation, which are under testing. Initial testing flowed 2,100 barrels per day (bbl/d) condensate and 11.05 MMscfd gas at 40/64 inches choke size, thus confirming the presence of condensate and natural gas at Faiz X-1. This discovery will translate into approximately 4,030 bbl/d in oil equivalent and foreign exchange saving of USD 282,000 per day.

The well is being flowed at different choke sizes to measure condensate and gas flow rates, following completion of which actual flow potential of the well will be determined.