MOL, the operator of TAL Block in Pakistan, has made a new gas and condensate discovery. This marks the company’s 13th discovery in Pakistan and the 10th discovery in the TAL Block.
The Mamikhel South-1 exploratory well successfully reached a total depth of 4,939 m on May 23, 2020. Upon testing the well flowed gas and condensate from Lockhart & Hangu formation at a flow rate of 6516 boepd (16.12 MMscf/d and 3240 bpd respectively), with flowing well-head pressure of 4,476 PSI at 32/64” choke. Further testing of the well is ongoing.
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 and discovered over 400 million boe hydrocarbon reserves.
As the operating shareholder MOL is responsible for 89 mboepd 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 are OGDCL, PPL, POL and GHPL. MOL Pakistan is the country’s second largest producer of LPG, crude oil and condensate. As the operator it currently addresses around 9 per cent of the natural gas needs of Pakistan, 25 per cent of oil and condensate needs and 22 per cent of LPG.
Dr Berislav Gašo, MOL Group’s E&P EVP commented: “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 of Pakistan for their continued support.”
MOL aims to transform its E&P division into an international platform and the new discovery strengthens this ambition further. Currently, MOL Group has upstream presence in 14 countries with production activities in 9 of them. Besides its core region, Central & Eastern Europe (Hungary and Croatia), MOL has a well-established presence and partnerships in the CIS region (Russia, Kazakhstan, Azerbaijan), the Middle East, Africa and Pakistan as well as the North Sea region (UK, Norway).
MOL Group is an integrated, international oil and gas company, headquartered in Budapest, Hungary. It is active in over 40 countries with a dynamic international workforce of 25,000 people and a track record of more than 100 years in the industry. MOL’s exploration and production activities are supported by more than 75 years’ experience in the hydrocarbon field. At the moment, there are production activities in 9 countries and exploration assets in 14 countries. MOL Group operates three refineries and two petrochemicals plants under integrated supply chain management in Hungary, Slovakia and Croatia, and owns a network of about 1900 service stations across 10 countries in Central and South Eastern Europe. –Tradearabia News Service