Tag: PPL

PPL Asia Secures $6 Million Settlement from Iraq’s Midland Oil Company

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New-PPL

KARACHI: PPL Asia E&P BV, a wholly-owned subsidiary of Pakistan Petroleum Limited (PPL), has successfully received a $6 million settlement from Iraq’s Midland Oil Company (MdOC), concluding the Exploration, Development, and Production Service Contract (EDPSC) for Block-8 in Iraq. In a notice to the Pakistan Stock Exchange (PSX) on Monday, PPL stated, “We are pleased to notify that PPL Asia E&P BV (PPLA) has received the amount of $6 million on January 3, 2025, in relation to the closeout of the above-referred EDPSC.” The settlement agreement, finalized and signed in…

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PPL Announces Gas and Condensate Discovery in Sindh’s Shah Bandar Block

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New-PPL

KARACHI: Pakistan Petroleum Limited (PPL) has announced a significant gas and condensate discovery in the Shah Bandar Block, District Sujawal, Sindh. This marks the second hydrocarbon find at the Pateji X-1 well, highlighting its exploration success. According to material information shared with the Pakistan Stock Exchange, PPL identified the new discovery in the Upper Sand (C-Sand) reservoir after thorough in-house evaluation of acquired geological and geophysical (G&G) data. The exploratory well, drilled to a depth of 2,475 meters, confirmed hydrocarbon potential within the Lower Goru Formation. PPL operates the Shah…

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PPL Announces Significant Gas Discovery at Khairpur

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New-PPL

KARACHI: Pakistan Petroleum Limited (PPL) has announced a significant gas discovery from the exploratory well Tor-1 in the Latif Block, located in Khairpur District, Sindh Province. The Tor-1 well, operated by United Energy Pakistan Beta (UEP Beta) with a 33.40% working interest, along with joint venture partners PPL and Prime Pakistan Limited, each holding a 33.30% interest, successfully reached its target depth of 3,438 meters (measured depth) after being spud-in on May 5, 2024. According to material information sent to the Pakistan Stock Exchange on Tuesday, the well’s Wireline logs…

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EPQL Seeks Low BTU Gas Supply from PPL’s Kandhkot Field

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Engro-Powergen

ISLAMABAD: Engro Powergen Qadirpur Limited (EPQL) has reaffirmed its interest in purchasing 50 MMCFD of low BTU gas from Pakistan Petroleum Limited‘s (PPL) Kandhkot Field for its power generation complex, on an “as-and-when available” basis. In a letter to Imran Abbasi, CEO/MD of PPL, EPQL CEO Sameen Akhtar referred to previous communications regarding their interest in gas allocation from the Kandhkot field and the confidentiality agreement signed on February 22, 2023. EPQL has resubmitted its Expression of Interest (EoI) to acquire up to 50 MMCFD gas to support its 217…

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Pakistan Petroleum Limited (PPL) Boosts Production Output

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PPL-achieves

Pakistan Petroleum Limited (PPL) has announced a noteworthy increase in its production output, contributing an additional 17 million standard cubic feet per day (MMscfd) of gas and 530 barrels per day (bpd) of oil/condensate to its portfolio. In a statement released on Tuesday, PPL highlighted that this achievement reflects the company’s steadfast dedication to enhancing the nation’s energy security. By employing cost-effective measures, PPL has successfully augmented its indigenous hydrocarbon production, which is poised to play a crucial role in narrowing the energy demand and supply gap in the country.…

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