Business

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.

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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.