Tullow announces success in Pakistan

Tullow Oil has announced the "successful testing" of the Ranikot zone of the Suri gas well onshore Pakistan. The first of the three zones flowed gas at a rate of 12.2 million standard cubic feet per day.

Tullow has estimated that the zone should be capable of producing gas at a rate of more than 20 million standard cubic feet per day when put into production. Two further zones, the Sui Main and Sui Upper, are to be tested shortly. The development plan for a gas treatment plant and pipeline to the Guddu power station operated by the Water and Power Development Authority has now been upgraded to 40 million standard cubic feet per day, said Tullow. Asked what this would mean to the group, Mr Aidan Heavey, Tullow's managing director, said every 20 million would mean a net $5.8 million. This, he added, should start to come through in the first quarter of 1998.