Jura Energy has announced that, after successful testing and commissioning of production facilities, commercial production has commenced from the Ayesha, Aminah and Ayesha North leases in the Badin IV South Block. The current production from the Badin IV South leases comprises of approx. 22 MMcf/d (net to Jura 6.05 MMcf/d) of Conventional Natural Gas ('CNG') and 174 Bbl/d (net to Jura 46.85 Bbl/d) of Natural Gas Liquids ('NGLs') at an average NGL yield of approx. 7.90 Bbls/MMcf. The CNG production from the Badin IV South leases is being sold to Sui Southern Gas Company, whereas the NGLs production is sold directly to refineries in Pakistan.
The sale price of CNG and NGLs production from Badin IV South leases shall be determined under the Pakistan Petroleum Exploration and Production Policy 2012, using prescribed formulae for CNG and NGLs, based on the carriage and freight price of a basket of crude oil ('C&F Price') imported into Pakistan. Based on the C&F Price of US$ 53/Bbl, the CNG and NGLs production from Badin IV South leases is expected to be entitled to a price of approx. US$ 4.54/MMBtu and US$ 48.45/Bbl respectively. The actual realized price may vary due to change in applicable C&F Price.
The Badin IV South leases cover an area of approx. 39.49 sq kms and are located in the districts of Badin and Sujjawal, in the Sindh Province of Pakistan.
Jura holds a 27.5% working interest in the Badin IV South Block, which is operated by Petroleum Exploration (Private) Limited.
Source: Jura Energy