Thursday, August 6, 2020

MOL Makes 13th Discovery in Pakistan

July 14, 2020

Hungarian oil company MOL has made a gas and condensate discovery at its TAL Block in Pakistan, marking its 13th successful discovery in the country and the tenth at the same block.

The company said Tuesday that the Mamikhel South-1 exploratory well had 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 said.

The company said that, with its 13 discoveries since the year 2000 in Pakistan, it had 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% share.  

Berislav Gašo, MOL Group’s E&P EVP said: "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.”  

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