Pakistan Oilfields Limited (POL) and Oil and Gas Development Company Limited (OGDCL) announced on Friday the successful hydrocarbon production testing from the Makori Deep-03 Development Well in the TAL Block, located in the Karak District, Khyber Pakhtunkhwa.
Both energy giants shared this development through separate notices to the Pakistan Stock Exchange (PSX) in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 of the PSX regulations.
The well, operated by MOL, has shown promising results. Drilling operations for the Makori Deep-03 well began on December 12, 2024, reaching a final depth of 3,887 meters.
Post completion, the well yielded 22.08 million standard cubic feet of gas per day (MMSCFD), 2,112 barrels per day of condensate, and 15 barrels per day of formation water at a flowing wellhead pressure of 4,744 psi, sourced from the Lockhart Formation.
OGDCL holds a 27.763% working interest in the development phase of this Block, while POL has a pre-commerciality working interest of 25% in the TAL Block.
Both companies confirmed that the well will be connected to the production line within two months, marking a significant step in enhancing production capacity in the region.
Pakistan Oilfields Limited is principally engaged in exploration, drilling and production of crude oil and gas in Pakistan. Its activities also include marketing of liquefied petroleum gas under the brand name POLGAS and transmission of petroleum.
The company is a subsidiary of The Attack Oil Company Limited, UK and its ultimate parent is Coral Holding Limited.
The Oil and Gas Development Company’s core business involves the exploration and production of hydrocarbons. The company, incorporated on October 23, 1997, was established to undertake exploration and development of oil and gas resources, including production and sale of oil and gas and related activities formerly carried on by Oil and Gas Development Corporation, which was established in 1961.
