MOL announces third hydrocarbon discovery in Karak Block, Pakistan

Deals

pixabay

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.

ADVERTISEMENT

Industries lose billions on counterfeit products Analysis

Industries lose billions on counterfeit products

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.