The MOL Group, as the operator of TAL Block in Pakistan, has announced the discovery of a new oil and gas reservoir in district Kohat of Khyber Pakhtunkhwa.
According to a statement released by the company on Tuesday, “The Mamikhel South-1 exploratory well successfully reached a total depth of 4,939m on 23rd May 2020. Upon testing, the well flowed gas and condensate from Lockhart & Hangu formation at a flow rate of 6,516 BOEPD (16.12mmscfd and 3,240bpd respectively), with flowing well-head pressure of 4,476 PSI at 32/64′ choke.”
MOL has a proven track record of successfully operating in Pakistan’s upstream sector for 21 years and holds equity stakes in four blocks in the country. MOL has made 13 oil, gas and condensate discoveries in Pakistan since 2000, discovering over 400 million BOE hydrocarbon reserves.
As the operating shareholder, MOL is responsible for 89 million BOEPD gross production (as of Q1 2020) in the TAL block, one of the largest hydrocarbon producing blocks in the country, where MOL has 8.4 per cent share.
MOL’s partners in the joint venture consortium include Oil and Gas Development Company (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan Oilfields (POL) and Government Holdings Pvt Ltd. (GHPL). MOL Pakistan is the country’s second-largest producer of LPG, crude oil and condensate. As an operator, it currently addresses around 9pc of the natural gas needs of Pakistan, 25pc of oil and condensate needs and 22pc of LPG requirements.
Commenting on the achievement, MOL Group Executive Vice President (Exploration & Production) Dr Berislav Gašosaid, “I am delighted to announce that we have made another discovery in Pakistan. This new discovery has de-risked an exploration play in deeper reservoir in the TAL Block, leading to new upside opportunities. The Mamikhel South-1 discovery will also help to improve the energy security of the country from indigenous resources. We are thankful to our joint venture partners as well as the government for their continued support.”
