9,804
October 14, 2009
News: Pakistan Petroleum Limited (PPL) might forgo its plan of searching oil and gas reserves internationally following acquisition of new exploration licences at home, its Managing Director Khalid Rahman said.Stiff competition from foreign firms, low margins and financial constraints are some other reasons which have made Pakistan’s second largest gas producer rethink any immediate need of going abroad to bolster profit,…“We would like to go international but there is a lot to do in Pakistan now,” he said citing PPL’s acquisition of 14 domestic blocks in a recent round of bidding… The News
MOL, the Hungarian oil and gas firm has made a new discovery of gas and condensate at the Maramzai-1 well in the Tal Block in Pakistan, … The production of the well is 1.1 million cubic metres of gas per day and 228 cubic meters of condensate per day,…The production rates can improve further after acid stimulation of two limestone reservoirs in the well," MOL said…MOL, Hungary’s largest corporation by sales revenues, holds a 10 percent stake in the block. Other shareholders include Oil and Gas Development Co Ltd, Pakistan Petroleum Limited (PPL), Pakistan Oilfields Ltd and Government Holdings (Pvt) Ltd…. Aaj News
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