Our Assets

Badin IV South – Development and Exploration

Working Interest 27.5%

Partners
Petroleum Exploration (PVT) Limited (Operator) 47.5%
Gulf Petroleum International Ltd 25%

Badin IV South (2468-5) covers an area of 864.41 sq. Km in the Sindh province of Pakistan. The Block lies in the Lower Indus basin or Badin sub-basin which contains a number of producing oil and gas fields of Pakistan. The discovery well, Ayesha-1 drilled in early 2014, found commercial accumulation of gas and condensate in the Lower Goru 'A' and 'B' sands. The exploratory efforts during 2015 and early 2016 resulted in gas and condensate discoveries in the Lower Goru Upper Sands at Aminah-1 and Ayesha North-1 wells. The Badin IV South JVP's are currently pursuing  joint commercialization  of the satellite gas discoveries located within a radius of ~ 12 Km. The commencement of the gas sale up to 25MMscf/d is targeted in early Q4 2017. The Ayesha gas has already been allocated to SSGC, whereas approval for allocation of the Ayesha North and Aminah Gas to SSGC is expected soon.

The JV has mapped six drillable prospects and plan to drill an exploratory well in 2017.

Summary of Ayesha Reserves* Reserves
Bcf
NPV 10%
US$ (millions)
Proved 0.52 0.96
Proved + Probable 3.41 7.36
Proved + Probable + Possible 8.63

19.34

*Reserve numbers are gross. NPV numbers are before taxes, based on forecast price and costs. All per Appraisal Report prepared by Degolyer & MacNaughton as at December 31, 2015. The above numbers does not include Ayesha North and Aminah gas fields discovered in 2016.