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MOL makes gas discovery in Pakistan

Integrated oil and gas company MOL Group, is expanding its footprint in Pakistan as the company revealed that it has made new gas and condensate discovery in the TAL block. This marks the company’s thirteenth discovery in Pakistan and tenth discovery in the oil and gas field.

The Mamikhel South-1 exploratory well, located in Pakistan’s TAL block, successfully reached a total depth of 4,939 metres on 23 May 2020, according to the company’s press statement.

Upon testing the well flowed gas and condensate from Lockhart and Hangu formation at a flow rate of 6,516 Barrels of oil equivalent per day (boepd). MOL announced that further testing of the well is ongoing.

“I am delighted to announce that we have made another discovery in Pakistan,” said Dr Berislav Gašo, MOL Group’s E&P Executive Vice President. “This new discovery has de-risked an exploration play in the deeper reservoir in the TAL block, leading to new upside opportunities.”

Mr Gašo pointed out that the Mamikhel South-1 discovery will also help to improve the energy security of the country from indigenous resources and thanked MOL’s Joint Venture partners as well as the Government of Pakistan for their continued support.

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 fields in the country, where MOL has an 8.4 per cent share. The company’s partners in the Joint Venture consortium are OGDCL, PPL, POL and GHPL.

MOL Pakistan is a fully owned subsidiary of MOL Group, operating in the country since 1999. Actively engaged in production and exploration, MOL Pakistan has interests in four blocks, of which TAL and Marghala blocks are operated. The company is one of the key LPG and gas producers in the country, contributing to Pakistan’s energy supply.

MOL has a diverse portfolio consisting of oil and gas exploration and production assets in thirteen countries with production activity in eight countries. In March, MOL discovered oil and gas in an offshore field located about 200 kilometres west of Stavanger, in the Norwegian part of the North Sea with potential estimated between 12 and 71 million barrels of oil and gas equivalent.

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