MOL Group makes new gas, oil discovery in district Kohat

ISLAMABAD: MOL Group has announced the discovery of new gas and condensate in Tal Block in district Kohat, which accounts for twenty percent of oil production in the country.

The company released a statement regarding the new gas and condensate discovery, stating it marks the company’s 13th discovery in Pakistan and 10th in the Tal Block.

The Mamikhel South-1 exploratory well reached a total depth of 4,939 metres on 23rd May 2020.  Upon testing the well, gas and condensate flowed from Lockhart and Hangu formation at a rate of 6,516 BOEPD (16.12 MMscf/d and 3,240 bpd, respectively), with flowing well head pressure of 4,476 PSI at 32/64 inch-diameter choke, said the company.

Dr Berislav Gaso, MOL Group’s Exploration and Production EVP said he is delighted to announce that they have made another discovery in Pakistan. He said further testing of the well is ongoing.

“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 of Pakistan for their continued support,” he said.

As the operating shareholder, MOL is responsible for 89 mboepd gross production (as of first quarter 2020) in the Tal block, while its share is 8.4 percent.

Its partners in the Joint Venture consortium are Oil and Gas Development Company (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan Oilfields (POL) and Government Holdings Pvt Ltd. (GHPL).

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 Group is a leading integrated Central & East European oil and gas corporation headquartered in Budapest, Hungary with operations in over thirty countries.