Millat Tractors achieves half-yearly target

LAHORE (PR): Millat Tractors Limited, maintaining its leadership role, achieved half yearly target by producing and selling over 20,000 MF tractors during the first six months of the FY2017-18 vis-à-vis 13,056 tractors sold out during the same period last year, showing an increase of 54%.

In this connection, a ceremony was held in the company premises which was attended by Sikandar Mustafa Khan, Chairman, Millat Group, L K Hashmi, Director, Sohail Bashir Rana, Director, Mian Mohammad Saleem, Director, SM Irfan Aqueel, CEO, Maqsood-ur-Rehman, CBA President, executives and workers of the company.

Sikandar Mustafa Khan reiterated the commitment that the company would cater to the increased local and export market demand thus also earning precious foreign exchange for the country. He congratulated all the stakeholders, including the executives, workers, vendors & dealers who worked tirelessly to achieve the target. SM Irfan Aqueel, CEO MTL, said that the team work helped in the target achievement.

PPL playing due role in development of unconventional reservoirs

KARACHI (PR): Pakistan Petroleum Limited (PPL), one of the key players in Pakistan’s E&P sector, is playing its due role in the development of unconventional reservoirs in the country.

In order to explore tight gas potential in the lower Indus basin, PPL drilled a well in Naushehro Feroze exploration lease. Tight gas potential was confirmed through successful drilling and testing of first well Naushahro Feroze X1 (NF X-1). Due to the tight nature of the reservoir this discovery initially did not appear commercially viable. After detailed post well analysis and numerous sub-seismic geological and reservoir modellings, PPL re-drilled this well horizontally to total length of 4940 metres and completed with state of the art multistage frack technology. Where the Chiltan Limestone reservoir was successfully drilled in a horizontal section with total lateral length of more than 1.3km. The well was completed with ten stage open hole packers and fracking sleeves.

This well made history in drilling industry of Pakistan, by becoming one of the deepest and longest horizontal wells in tight carbonate reservoir. Later, all ten stages were stimulated (frac/acid) and successfully tested at 4.5 MMscfd with 1850 psi flowing wellhead pressure with 9 fold increase in production.

In the future, “PPL plans to work on two additional tight gas discoveries to establish commercial viability,” says MD and CEO PPL Syed Wamiq Bokhari. “The company`s effort in tapping unconventional reservoirs has the potential to add substantial reserves to Pakistan`s hydrocarbons base,” he adds.

NF X-1 is in Naushahro Feroz Block, Sindh, with PPL as operator holding 90 percent working interest and the remaining 10 percent held by Asia Resources Oil Limited.

2017 a phenomenal year for Huawei

SHENZHEN (PR): HUAWEI welcomes the New Year with renewed hope and vigor as the company embarks on a journey towards global prominence by bringing innovative technology to people. This was stated by Richard Yu, CEO, HUAWEI CBG in his New Year message for HUAWEI employees worldwide.

2017 was a phenomenal year for HUAWEI. Its global market share exceeded 10% cementing its rank as one of the top three players – thereby narrowing the gap between the top two players. HUAWEI CBG expects to generate a revenue of CNY 236 billion in 2017.