KARACHI: The Pakistan Petroleum Limited (PPL), one of the country’s leading oil and gas exploration and production companies, has discovered “significant” oil and gas reserves in the Attock district of the eastern Punjab province, it said on Friday.

This landmark discovery at Dhok Sultan-03 well is not only a major milestone for PPL and its partner, the Government Holdings Private Limited (GHPL), but also marks the second deepest oil discovery in naturally fractured carbonate in the Pothohar region, according to PPL.

The exploration firm, as operator of the Dhok Sultan block with a 75 percent working interest (WI) alongside GHPL’s 25 percent WI, spudded the well on January 18. Drilled to a depth of 5,815 meters, the well tested the hydrocarbon potential of the Patala and Lockhart formations.

The well flowed 1,469 barrels per day of oil and 2.56 Million Standard Cubic Feet per Day (MMscfd) of gas at Wellhead Flowing Pressure (WHFP) of 1,147 Pounds per Square Inch Gauge (psig) on a 32/64” choke, and 2,113 barrels per day of oil and 4.13 MMscfd of gas at WHFP of 813psig on a 48/64” choke.

“This discovery is a result of rigorous geological, geophysical and reservoir engineering data analyzes and integration that helped in overcoming the drilling challenges by optimizing the well design that resulted in saving drilling days and cost optimization,” PPL said.

The South Asian country, which imports most of its energy needs and is currently looking for ways to lessen the costs, is currently pursuing a multi-pronged strategy to advance the energy sector, focusing on indigenization, electrification and liberalization.

The Dhok Sultan-03 discovery is expected to make a meaningful contribution to Pakistan’s energy mix by adding additional hydrocarbon reserves and will save significant foreign exchange for the country through indigenous hydrocarbon production.

“This discovery is a testament to PPL’s in-house expertise, perseverance, and commitment to energy security,” PPL Managing Director Imran Abbasy. “It demonstrates our ability to deliver impactful results that not only strengthen our reserves base but also contribute to reducing the country’s reliance on imported energy and conserving valuable foreign exchange.”

Earlier in Feb., Mari Energies, a Pakistani hydrocarbon exploration firm, discovered new oil and gas reserves in the northwestern Khyber Pakhtunkhwa (KP) province, with initial tests suggesting a flow of 12.96 million standard cubic feet per day (MMSCFD) of gas and around 20 barrel per day (bbl/d) of condensate.

The discovery was made in KP’s Waziristan district at the Spinwam-1 exploratory well, which was drilled on May 28 last year, according to Mari Energies. The company holds a 55 percent stake in the Waziristan block together with the state-owned Oil and Gas Development Company Limited (OGDCL) and Orient Petroleum Inc. (OPI).

It followed Islamabad’s announcement offering foreign investors 40 offshore and 31 onshore blocks for oil and gas exploration.