MOL Discovers Gas & Condensate in Kohat

MOL, as the operator of  TAL Block in Pakistan, has made a new gas and condensate discovery. The TAL block is an oil field located in the Kohat district and this is the 13th discovery of MOL in Pakistan in 21 years.

According to the official press release, the Mamikhel South-1 exploratory well successfully reached a total depth of 4,939m on 23 May 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, the statement added.

Even during the lockdown, the company continued its business operations in order to meet the energy demands of the country. Even in these difficult circumstances caused by the outbreak, MOL Pakistan’s exploration and production through its technical departments, including drilling, surface and subsurface, the commercial team and various support departments, worked hard to maintain successful operations.

Despite all, MOL Pakistan is successful in its mission to provide a safe and steady supply of oil and gas to the nation, and works hard to make sure that Pakistan has the energy needed to fight the pandemic and consequential economic challenges yet to come.

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 a 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.

Mr. Ali Murtaza Abbas, MOL Group’s RVP MEA & Pakistan, commented on the occasion:

We have all gone through tough times in the last few months, the pandemic and consequently the economic crisis have served as a dark patch on humanity in general. Even in these difficult circumstances, MOL Pakistan has persevered and continued to deliver in order to ensure the steady supply of oil and gas to the energy grid of Pakistan. These times have also shown us that we need to be self-sufficient, look towards new horizons and to further develop our energy sector. I congratulate our hardworking team from MOL Pakistan, Joint Venture partners of the TAL Block and the Government of Pakistan for their unprecedented support all the way.

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. It 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 productions (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.

It aims to transform its E&P division into an international platform and the new discovery strengthens this ambition further. Currently, MOL Group has an 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).