ISLAMABAD: Pakistan Petroleum Limited (PPL) has made history by becoming the first Pakistani company to successfully spud its first international exploration well in Iraq.
This achievement has firmly imprinted PPL’s presence on the global energy map. [the_ad id=”31605″]Pakistan Petroleum Limited works under the guidance and direction of Petroleum Division.
The company is operating Block 8. The block is located in Mesopotamian basin and is surrounded by areas that have several large oil and gas fields. The well is named as Madian I A Chinese drilling contractor ZEPEC is drilling the well on integrated project management basis.
“PPL’s foray into the international competitive energy markets and its success is heartening and a resounding success for this division, the company and indeed the entire nation,” said Ghulam Sarwar Khan, the Federal Minister for Petroleum.
He added that, “this feat demonstrates that our nation has a rich pool of talented individuals who, given adequate facilitation are able to overcome obstacles and deliver. The Ministry would harness such talent and efforts would be accelerated to further build on such achievements.”
The Madain-1 prospect was managed with the help of a 3D seismic survey carried out by the company over a 300 square kilometers area of the block that spans around 6,000 square kilometers.
There are multiple reservoir targets in Madian-1 that will be drilled through a depth of approximately 5,000 meters.
Ghulam Sarwar Khan, while appreciating the spudding of first international exploration well noted that, “reform agenda of the present Government including in the Oil and Gas sector would yield dividends”.