MOL announces new discovery in Pakistan

Art

Hungarian oil and gas company MOL has made a new crude oil, condensate and natural gas discovery in the Karak Block in Pakistan, MOL said on the Budapest Stock Exchange yesterday.

The block is operated by Mari Petroleum Company Ltd. (MPCL) holding a 60% interest while MOL Pakistan Oil & Gas Co. B.V. has 40% in the block.

MOL has a well-established presence in Pakistan with five blocks and over 15 years of operation. This is the tenth discovery since 1999 in three different blocks.

The Kalabagh-1A ST1 discovery is the joint venture’s second success in the Karak block after its first crude oil discovery made at the Halini-1 Exploratory Well-1 in 2011.

The Kalabagh-1A ST1 well, where drilling started in March 2015, flowed gas and condensate in Datta Formation at a rate of 618 boepd and 160 bblpd, respectively, during testing. In the Samanasuk Formation it flowed gas and condensate at a rate of 877 boepd and 180 bblpd, respectively. Finally, the testing of Lockhart Formation flowed commercial quantity of crude oil at 500 bblpd.

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