By an OGJ Correspondent
KARACHI, Aug. 3 -- Pakistan Petroleum Ltd. (PPL) plans to begin drilling the Pasni X-2 natural gas well on Pasni Block 2462-1 in the Arabian Sea off Pakistan by the end of the year, said PPL's Managing Director Syed Munsif Raza.
Previous operator Ocean Energy Inc., Houston, had suspended drilling on the blocks for security reasons, Munsif Raza said, after which PPL assumed Ocean Energy's 85% share and the operatorship. PPL now retains a 95% share, with Pakistani holding company Government Holding (Pvt.) Ltd. holding 5%.
A 3-D seismic survey revealed that the first drilling was off the structure. PPL now plans to invest about $15 million in the venture. If drilling is successful, it would give a tremendous boost to Gwadar coastal cities development, meeting the energy requirements of Gwadar, Pasni, Turbat, and the adjoining coastal belt areas of Bauchistan province, PPL's director said.
Munsif Raza said that PPL currently produces 720-750 MMcfd of gas from more than 80 wells in Sui field, and if it continues at that rate, those reserves would last for less than 10-12 years.