Pakistan Oilfields Limited (POL) has discovered hydrocarbon reserves from the Razgir-1 exploratory well in the Lumshiwal-1 zone, located in district Kohat of Khyber Pakhtunkhwa.
The company shared this development with the Pakistan Stock Exchange (PSX) through a notice on Monday in accordance with the Listing Regulations.
“As per information received from MOL, the operator of TAL Block, hydrocarbons have been discovered in exploratory well Razgir-1, which was spudded on January 09, 2024, and has been drilled down to a depth of 3,950 meters,” POL said in its notice.
TAL Joint Venture includes OGDCL with a 30% working interest, MOL Pakistan Oil & Gas Co. B.V. (the operator) with 10%, Pakistan Petroleum Limited (PPL) with 30%, Pakistan Oilfields Limited (POL) with 25%, and Government Holdings Private Limited (GHPL) with 5%.
As a result of the drill stem test (DST) conducted at the well to test the potential of Lumshiwal formation, the well has tested 20 MMscfd of gas per day and 250 barrels per day of condensate at 40/64″ fixed choke size at the flowing wellhead pressure of 2,348 psi, read the notice.
Pakistan Oilfields Limited further said that testing operations were still in progress to ascertain the true potential of the well.
“A drill stem test (DST) is a procedure for isolating and testing the surrounding geological formations through the drill stem. The test is a measurement of pressure behavior at the drill stem and is a way to obtain important fluid sampling information and to establish the probability of commercial production,” it added.
“Accordingly, it should be borne in mind that actual production may differ significantly from the test results.”
This discovery has de-risked further exploration play in TAL Block, leading to new upside opportunities. The said discovery will help to enhance the indigenous hydrocarbon supply of the country and also add to the hydrocarbon reserves base.
