LAHORE              -           State-owned Pakistan Petroleum Limited (PPL) has announced two oil and gas discoveries in Sindh and Balochistan in an announcement, ARY News reported on Monday.

The PPL informed the Pakistan Stock Exchange in a filing on Monday about two discoveries of oil and gas deposits in Sindh and Balochistan. The PPL has announced that gas and condensate was discovered from its exploratory well in Khairpur in a joint venture with other companies.

It tested 152 barrels oil per day and 28.6 million cubic feet of gas reserves at Khairpur well. The PPL has announced another major discovery of oil and gas in Markand area of Balochistan.

Around 10.07 cubic feet gas reserves have been discovered at Markand well with 132 barrels oil per day, the company has announced in its statement. In April this year Mari Petroleum Company Limited (MPCL), along with its joint-venture partner Pakistan Petroleum Limited (PPL), had found oil reserves at Dharian-l ST-3 well located near Gujar Khan, Rawalpindi district in Punjab.

According to a bourse filing, the well was drilled in December 2017 and reached the depth of 4,770 metres with the objective of testing the hydrocarbon potential of Sakessar and Khewra formations as primary targets.

“The drill stem tests carried out in Khewra formation showed a flow of 372 barrels per day of crude oil,” the company said in a notification to the Pakistan Stock Exchange (PSX).