Pakistan (Commonwealth Union)_ In a ground-breaking development poised to alleviate Pakistan’s persistent gas shortage, the state-owned petroleum giant Pakistan Petroleum Limited (PPL) has officially unveiled the discovery of huge natural gas reserves in the Sajawal district of Sindh. According to reports, the breakthrough follows meticulous drilling operations conducted by PPL, reaching a depth of 2,545 meters at the Shah Bandar in Jhum East One location.
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Primary testing showcased positive results, with a wellhead flowing pressure reaching 13.69 million standard cubic feet and a potential regular production of 236 barrels. Current drilling, under expert supervision, seeks to explore and exploit the full potential of this fresh resource. A spokesperson for PPL underscored the positive impact of this discovery, noting its potential to augment hydrocarbon reserves and play a pivotal role in addressing the prevailing energy crisis affecting the nation’s oil and gas sector.
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The joint efforts of PPL, in conjunction with Murree Petroleum, Sindh Energy Holding, and Government Holding Private Limited, have played a crucial role in the excavation process at the Shah Bandar well. The timing of this discovery holds particular significance as Pakistan struggles with a growing trade deficit, primarily stemming from substantial imports of oil and gas to meet the nation’s energy demands. To mitigate this shortfall, authorities have often resorted to purchasing expensive Liquefied Natural Gas (LNG) from exporting countries, especially during the winter season. The inability to obtain long-term contractual agreements with fixed prices has compelled officials to depend on spot cargoes of LNG, which led to domestic price hikes and subsequent inflation.
In response to these crucial concerns, the recently unearthed natural gas reserves offer a domestic solution to Pakistan’s energy demands. Harnessing indigenous resources not only promises to alleviate the trade deficit but also marks a departure from the cycle of seeking loans from multiple international lenders, providing a more sustainable and self-reliant energy source for the country. This discovery marks a significant stride towards securing Pakistan’s energy independence and fostering economic stability amid the prevailing global energy challenges. Experts anticipate that harnessing these newfound resources will play a pivotal role in shaping the country’s energy landscape in the coming years.
