Pakistan Petroleum Limited (PPL) has announced a new oil and gas discovery at the Rahi X-1 exploratory well in the Shah Bandar Exploration License, located in Sujawal district, Sindh, marking another step toward strengthening Pakistan’s domestic energy resources.
According to the company, production testing at the Rahi X-1 well yielded 12 barrels of oil per day (bopd) and 0.493 million standard cubic feet of gas per day (mmscfd) at a 32/64-inch choke size.
PPL is the operator of the Shah Bandar Exploration License with a 63 percent working interest, while Mari Energies Limited holds the remaining 32 percent participating interest in the joint venture.
Brokerage estimates by Arif Habib Limited indicate that the discovery could contribute approximately Rs. 0.036 per share annually to PPL’s earnings and around Rs. 0.042 per share to Mari Energies’ earnings, based on the tested production rate.
The discovery is expected to support Pakistan’s efforts to boost indigenous oil and gas production and reduce reliance on imported energy. However, the field will undergo further appraisal and development before commercial production can begin.
