PPL, the operator of Block 8 in Iraq, drilled the exploration well named Madain-1 on April 14, 2019. “Notably, the company is also the first Pakistani oil and gas exploration and production company to have a footprint as an operator on the international oil and gas map,” it said. PPL’s share price inched down Rs0.16, or 0.09%, and closed at Rs176.65 with trading in 314,300 shares at the PSX. “The Madain-1 prospect matured with the help of a 3D seismic survey carried out by the company over a 300-square-kilometre area of the block that spanned around 6,000 square kilometres,” added the company notification. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Source: The Express Tribune April 17, 2019 03:33 UTC