Oil and Gas reserves discovered in Punjab

01:22 PM | 8 Sep, 2018
Oil and Gas reserves discovered in Punjab
LAHORE - Country's new oil and gas reserves have been discovered from exploration well Talagang X-1 located in the Chakwal district of Punjab.

Pakistan Petroleum Limited (PPL) announced the discovery of fresh oil deposits in exploratory well with a capacity of 313 barrels per day of hydrocarbons together with a minor immeasurable quantity of gas.

Talagang X-1 was spud on May 24, 2018 and drilled down to the depth of 3,675 metres measured depth inside Nammal formation, PPL Company Secretary Shahana Ahmed Ali said in a notification to the Pakistan Stock Exchange (PSX) on Friday.

Talagang X-1 is planned to be drilled deeper to test the hydrocarbon potential of secondary reservoirs in deeper formations, the notification added.

The main supplier of natural gas in Pakistan is Pakistan Petroleum Limited. PPL is focused on searching, mining, developing and producing oil and gas resources.

The oil and gas exploration company has remained the operator of Karsal block where Talangan X-1 is located with 100% working interest.



Currency Rates in Pakistan - Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 24 Feb 2024

Pakistani currency remains largely stable against US dollar and other currencies in the open market on February 24, 2024.

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

On Saturday, Euro stands at 302  for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 24 February 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94


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