MOL announces third hydrocarbon discovery in Karak Block, Pakistan

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Hungarian oil and gas company MOL announced a new hydrocarbon discovery in the Karak Block, Pakistan on the Budapest Stock Exchangeʼs website yesterday, Hungarian news agency MTI reported.

The Halini-Deep-1 discovery marks the third discovery in the block following two previous successes (Halini-X-1 in 2011 and Kalabagh-1A in 2015), MOL said. The Halini-Deep-1 well was drilled to a depth of 5,900 meters, they added. Subsequent to the drill-stem test a new, deeper reservoir (Samana Suk) was added to the already known higher reservoirs (Lumshiwal, Hangu, Lockhart). The completion integrity test was conducted with flow rates of 1,425 bopd oil and 1.18 mmscf/day gas (197 boepd), MOL said. 

MOL has a well-established track record of over 17 years in Pakistan and holds equity stakes in five blocks in the country. The current discovery is the 11th one achieved in three different blocks. The Karak block is operated by Mari Petroleum Company Limited (MPCL) with a 60% working interest while MOL Pakistan Oil & Gas Co. B.V has a 40% stake in the block.

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