TFD Stocks Overview

Sindh goes on well in aggressive exploration of oil and gas

Sindh goes on well in aggressive exploration of oil and gas

Sindh goes on well in aggressive exploration of oil and gas

Mohammed Arifeen

Oil and Gas Development Company (OGDC) has found new oil and gas deposits in Chabaro-1 well located in Khewari block in Sindh.
OGDC is the operator of Khewari block while Government Holdings Private Limited is a partner in the joint venture. They have 95 percent and 5 percent stake respectively in the block.
The discovery of Chabaro-1 is the result of an aggressive exploration strategy adopted by the company.
It has opened up a new avenue and will add to the hydrocarbon reserves of OGDC and of the country.
The exploratory well was drilled down to the depth of 3,674 metres.
Based on estimate, expect annualized earnings impact of Rs0.17 per share (0.8 percent of fiscal year 2018 earnings) for OGDC based on oil price assumption of $50 per barrel.
Earlier, OGDC discovered oil and gas reserves at a newly tested well Chhutto-1 in Sindh in March 2017.
(Chhutto-1) test shows flow of 8.66 million standard cubic feet per day of gas and 285 barrels per day of condensate.
OGDC manages largest reserves of hydrocarbons in the country. It recently hit an all-time high production of 50,000 bpd, which is almost half of the country’s oil production these days.
The state-owned firm’s net profit dropped 12 percent to Rs30 billion for the six-month period ended December 31, 2016 on the back of lower sales value and 100 percent higher exploration cost.
Mari Petroleum Company Limited (MPCL) has made a new significant gas discovery resulting from its new exploratory efforts at Tipu -1 Exploration Well, drilled in Mari D&P Lease Area, located in District Ghotki, Sindh Province.
MPCL is the Operator of Mari D&P Lease Area with a 100 percent working interest share. The said well was spud-in on July 05, 2017 and has been successfully drilled down to the depth of 3,944 meters.
The well was drilled with the objective to test the hydrocarbon potential of Northern Compartment at Lower Goru B Sand level as well as assess the hydrocarbon potential of Sembar as a probable shale/tight gas potential.
The Drill Stem Tests carried out in Lower Goru “B” Sand, flowed gas at a rate of 15.5 MMSCFD at WHFP of 2153 Psi at 40/64 inch choke size and subsequently during Completion Integrity Test, the well produced 21.4 MMSCFD gas @ 40/64 inch choke size.
This is the 3rd consecutive new discovery following its earlier two discoveries at SML/SUL Limestone levels, which have been primarily achieved from the results of the Company’s extensive investment on acquisition of 1,079 sq.km wide-azimuth 3D seismic data, simultaneously imaging all the probable hydrocarbon bearing zones/compartments as well as the presently producing reservoirs followed-up by an equally extensive wells exploration program in the Mari D&P Lease Area.
The state-run Oil and Gas Development Company Ltd (OGDCL) has struck a new oil and gas discovery in an area of Hyderabad, Sindh, raising hopes of fresh hydrocarbon openings.
The discovery at exploratory well Chhutto-1 is the first hydrocarbon find in Bulri Shah Karim Tando Muhammad Khan in District Hyderabad.
Initial results encouraged the company to go for two more wells in the same licence areas, of which one well has already been marked for immediate drilling.
The OGDCL is the operator of joint venture of Nim Block having 95 per cent share with 5pc shareholding of the federal government through Government Holdings (Pvt) Ltd (GHPL).
The structure of Chhutto-1 was delineated, drilled and tested using OGDCL’s in-house expertise.
The well was drilled down to the depth of 3,820 metres. The well has tested 8.66 million standard cubic feet per day (mmscfd) of gas and 285 barrels per day (bpd) of condensate through 32/64-inch choke at wellhead flowing pressure of 2,100 per square inch from “A” sands of the Lower Goru formation.
The “discovery is the result of aggressive exploration strategy adopted by the OGDCL”, the company said in a statement, adding that “it has opened a new avenue and would add to the hydrocarbon reserves base on the OGDCL and the country”.
The OGDCL has the largest acreage, production and hydrocarbon reserves in the country. It is listed on the Pakistan and London stock exchanges with a debt-free robust balance sheet and cash reserves, although its huge financials are stuck up in the country’s chronic energy sector circular debt.
The company hit a record production level of 50,172 bpd of oil a few months ago; securing 57 percent share in the country’s total production of about 88,000 bpd.
Pakistan meets around 12 percent of its oil requirement from indigenous resources. Historically, the OGDCL’s production has hovered between 35,000 and 45,000 bpd.
The company had taken in hand an aggressive exploration and development programme in the last few years to take advantage of a slowdown in drilling activities in the Middle East and around the world.
Only recently, the company launched four fresh seismic crews started operations in Kharan, Pasni, Gwadar, Zhob and Musakhel in Balochistan which remained “inaccessible due to security situation for a long time”.
At the time of filing this report, MARI’s share price increased 3.15 percent, or Rs. 48.85, to Rs. 1,601.10 with volumes of 2000 shares at the Pakistan Stock Exchange.
The company is highly encouraged with the positive results of said seismic data which has identified additional new prospects at different reservoir levels, which the company plans to drill in the next 2-3 years to chase additional hydrocarbon in the area.
At present the company operates four Development & Production Leases, eight Exploration Licenses and has joint venture interest share in five other Explorations.
Gas supplies in Sindh continue to rise through the discovery of new wells and by developing existing resources.
Pakistan Petroleum Limited (PPL) enhanced its gas supplies from Kandhkot Gas Field (KGF) to 230 MMscfd. The company is expected to further ramp it up to 250 MMscfd in the future.
Earlier, the field was supplying an average of 180 MMscfd gas to Guddu Thermal Power Station.
Therefore the increase in supplies of gas will improve power generation efforts by the company, with a trickledown effect for consumers who need uninterrupted electricity.
The company has plans to drill seven development wells in KGF during this year.
Of these, three wells have already been completed, adding 50 MMscfd gas to the national supply. Besides, a three-rig operation remains ongoing.
PPL has been making consistent efforts, especially during the last nine months based on its commitment to the government, to tap into the potential that Kandhkot holds through fast-track development drilling, revamping of compressors and debottlenecking of production facilities.
PPL has recently increased production through optimizing reserves replacement and development efforts from mature fields, including Sui, Kandhkot and Adhi, notably achieving a major milestone of net production crossing the 1 Bcfe/day mark in November 2016.
PPL is one of the major operators in Pakistan for exploring oil and gas reserves. It discovered 264 wells of gas and 46 of crude oil in different provinces in the last financial year. Its production of gas stands at 838 MMscf and oil at 14,627 bbl.

xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh bóng đáphòng thay đồ bóng đábóng đá phủikèo nhà cái onbetbóng đá lu 2thông tin phòng thay đồthe thao vuaapp đánh lô đềdudoanxosoxổ số giải đặc biệthôm nay xổ sốkèo đẹp hôm nayketquaxosokq xskqxsmnsoi cầu ba miềnsoi cau thong kesxkt hôm naythế giới xổ sốxổ số 24hxo.soxoso3mienxo so ba mienxoso dac bietxosodientoanxổ số dự đoánvé số chiều xổxoso ket quaxosokienthietxoso kq hôm nayxoso ktxổ số megaxổ số mới nhất hôm nayxoso truc tiepxoso ViệtSX3MIENxs dự đoánxs mien bac hom nayxs miên namxsmientrungxsmn thu 7con số may mắn hôm nayKQXS 3 miền Bắc Trung Nam Nhanhdự đoán xổ số 3 miềndò vé sốdu doan xo so hom nayket qua xo xoket qua xo so.vntrúng thưởng xo sokq xoso trực tiếpket qua xskqxs 247số miền nams0x0 mienbacxosobamien hôm naysố đẹp hôm naysố đẹp trực tuyếnnuôi số đẹpxo so hom quaxoso ketquaxstruc tiep hom nayxổ số kiến thiết trực tiếpxổ số kq hôm nayso xo kq trực tuyenkết quả xổ số miền bắc trực tiếpxo so miền namxổ số miền nam trực tiếptrực tiếp xổ số hôm nayket wa xsKQ XOSOxoso onlinexo so truc tiep hom nayxsttso mien bac trong ngàyKQXS3Msố so mien bacdu doan xo so onlinedu doan cau loxổ số kenokqxs vnKQXOSOKQXS hôm naytrực tiếp kết quả xổ số ba miềncap lo dep nhat hom naysoi cầu chuẩn hôm nayso ket qua xo soXem kết quả xổ số nhanh nhấtSX3MIENXSMB chủ nhậtKQXSMNkết quả mở giải trực tuyếnGiờ vàng chốt số OnlineĐánh Đề Con Gìdò số miền namdò vé số hôm nayso mo so debach thủ lô đẹp nhất hôm naycầu đề hôm naykết quả xổ số kiến thiết toàn quốccau dep 88xsmb rong bach kimket qua xs 2023dự đoán xổ số hàng ngàyBạch thủ đề miền BắcSoi Cầu MB thần tàisoi cau vip 247soi cầu tốtsoi cầu miễn phísoi cau mb vipxsmb hom nayxs vietlottxsmn hôm naycầu lô đẹpthống kê lô kép xổ số miền Bắcquay thử xsmnxổ số thần tàiQuay thử XSMTxổ số chiều nayxo so mien nam hom nayweb đánh lô đề trực tuyến uy tínKQXS hôm nayxsmb ngày hôm nayXSMT chủ nhậtxổ số Power 6/55KQXS A trúng roycao thủ chốt sốbảng xổ số đặc biệtsoi cầu 247 vipsoi cầu wap 666Soi cầu miễn phí 888 VIPSoi Cau Chuan MBđộc thủ desố miền bắcthần tài cho sốKết quả xổ số thần tàiXem trực tiếp xổ sốXIN SỐ THẦN TÀI THỔ ĐỊACầu lô số đẹplô đẹp vip 24hsoi cầu miễn phí 888xổ số kiến thiết chiều nayXSMN thứ 7 hàng tuầnKết quả Xổ số Hồ Chí Minhnhà cái xổ số Việt NamXổ Số Đại PhátXổ số mới nhất Hôm Nayso xo mb hom nayxxmb88quay thu mbXo so Minh ChinhXS Minh Ngọc trực tiếp hôm nayXSMN 88XSTDxs than taixổ số UY TIN NHẤTxs vietlott 88SOI CẦU SIÊU CHUẨNSoiCauVietlô đẹp hôm nay vipket qua so xo hom naykqxsmb 30 ngàydự đoán xổ số 3 miềnSoi cầu 3 càng chuẩn xácbạch thủ lônuoi lo chuanbắt lô chuẩn theo ngàykq xo-solô 3 càngnuôi lô đề siêu vipcầu Lô Xiên XSMBđề về bao nhiêuSoi cầu x3xổ số kiến thiết ngày hôm nayquay thử xsmttruc tiep kết quả sxmntrực tiếp miền bắckết quả xổ số chấm vnbảng xs đặc biệt năm 2023soi cau xsmbxổ số hà nội hôm naysxmtxsmt hôm nayxs truc tiep mbketqua xo so onlinekqxs onlinexo số hôm nayXS3MTin xs hôm nayxsmn thu2XSMN hom nayxổ số miền bắc trực tiếp hôm naySO XOxsmbsxmn hôm nay188betlink188 xo sosoi cầu vip 88lô tô việtsoi lô việtXS247xs ba miềnchốt lô đẹp nhất hôm naychốt số xsmbCHƠI LÔ TÔsoi cau mn hom naychốt lô chuẩndu doan sxmtdự đoán xổ số onlinerồng bạch kim chốt 3 càng miễn phí hôm naythống kê lô gan miền bắcdàn đề lôCầu Kèo Đặc Biệtchốt cầu may mắnkết quả xổ số miền bắc hômSoi cầu vàng 777thẻ bài onlinedu doan mn 888soi cầu miền nam vipsoi cầu mt vipdàn de hôm nay7 cao thủ chốt sốsoi cau mien phi 7777 cao thủ chốt số nức tiếng3 càng miền bắcrồng bạch kim 777dàn de bất bạion newsddxsmn188betw88w88789bettf88sin88suvipsunwintf88five8812betsv88vn88Top 10 nhà cái uy tínsky88iwinlucky88nhacaisin88oxbetm88vn88w88789betiwinf8betrio66rio66lucky88oxbetvn88188bet789betMay-88five88one88sin88bk88xbetoxbetMU88188BETSV88RIO66ONBET88188betM88M88SV88Jun-68Jun-88one88iwinv9betw388OXBETw388w388onbetonbetonbetonbet88onbet88onbet88onbet88onbetonbetonbetonbetqh88mu88Nhà cái uy tínpog79vp777vp777vipbetvipbetuk88uk88typhu88typhu88tk88tk88sm66sm66me88me888live8live8livesm66me88win798livesm66me88win79pog79pog79vp777vp777uk88uk88tk88tk88luck8luck8kingbet86kingbet86k188k188hr99hr99123b8xbetvnvipbetsv66zbettaisunwin-vntyphu88vn138vwinvwinvi68ee881xbetrio66zbetvn138i9betvipfi88clubcf68onbet88ee88typhu88onbetonbetkhuyenmai12bet-moblie12betmoblietaimienphi247vi68clupcf68clupvipbeti9betqh88onb123onbefsoi cầunổ hũbắn cáđá gàđá gàgame bàicasinosoi cầuxóc đĩagame bàigiải mã giấc mơbầu cuaslot gamecasinonổ hủdàn đềBắn cácasinodàn đềnổ hũtài xỉuslot gamecasinobắn cáđá gàgame bàithể thaogame bàisoi cầukqsssoi cầucờ tướngbắn cágame bàixóc đĩaAG百家乐AG百家乐AG真人AG真人爱游戏华体会华体会im体育kok体育开云体育开云体育开云体育乐鱼体育乐鱼体育欧宝体育ob体育亚博体育亚博体育亚博体育亚博体育亚博体育亚博体育开云体育开云体育棋牌棋牌沙巴体育买球平台新葡京娱乐开云体育mu88qh88

Leave a Reply