MOL, the operator of TAL Block in Pakistan, has made a new gas and condensate discovery, which marks its 13th discovery in Pakistan and the 10th discovery in the TAL Block.
MOL in a statement made available to Orient Energy Review, stated that the TAL Block discovery is the second time in three months that MOL will discover hydrocarbon reserves in March 2020. MOL Norge discovered oil and gas in the North Sea, it disclosed.
The oil and gas company stated that Mamikhel South-1 exploratory well successfully reached a total depth of 4,939 m on 23 May 2020. Adding that 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. Adding that 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. The oil and gas company has made 13 oil, gas and condensate discoveries in Pakistan since the year 2000 and has 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.
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% of the natural gas needs of Pakistan, 25 % of oil and condensate needs and 22% of LPG.
The Group’s E&P Executive Vice President, Dr Berislav Gašo 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.”
With Upstream presence in 14 countries and production activities in 9 of them, MOL Group aims to transform its E&P division into an international platform. It noted that the new discovery strengthens this ambition further.
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 Pakistan is a highly successful operator and an important contributor to Pakistan’s energy security, in addition, employs more than 400 people, the company stated.
Peace Obi
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