DRILLING

PPL to drill in the Arabian Sea

Pakistan Petroleum Ltd (PPL) MD, Syed Munsif Raza, has announced plans to drill the offshore Pasn...

Previously, the well was being operated by Ocean Energy Inc.

In a statement Syed said, “Previous operator Ocean Energy Inc had suspended drilling on the blocks for security reasons, after which PPL assumed Ocean Energy’s 85% share and the operatorship.”

“A 3-D seismic survey revealed that the first drilling was off the structure [and] PPL now plans to invest about US$15 million in the venture. If drilling is successful, it would give a tremendous boost to Gwadar development, meeting the energy requirements of Gwadar, Pasni, Turbat, and the adjoining coastal belt areas of Bauchistan province,” he added.

PPL now holds a 95% share in the Block with the balance held by Pakistan’s Government Holding (Pvt.) Ltd.

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