ISLAMABAD: In what can be termed a major boost to petroleum exploration activities in the country, MOL Pakistan has made a sizeable gas-condensate discovery at its exploratory well Mardan Khel-I in Hangu district of Khyber-Pakhtunkhwa.
In a statement issued on Tuesday, MOL called it the seventh discovery in the Tal block since 2002 after earlier oil and gas-condensate finds in Manzalai, Makori, Mamikhel, Maramzai, Makori East and Tolanj.
Praising the investment-friendly policies of Pakistan, MOL Chief Operating Officer Oil and Gas Upstream Dr Berislav Gaso expressed satisfaction over the reformed economic outlook of the country. “MOL Pakistan sincerely believes that its E&P (exploration and production) skill inventory gathered over the period of 17 years can positively contribute towards self-sustainability of Pakistan’s energy needs,” he said.
Gaso also discussed the success story of the MOL Group in Pakistan during a meeting with Prime Minister Muhammad Nawaz Sharif.
MOL Group Regional Adviser Middle East, Africa and Pakistan Ali Murtaza Abbas stated the Mardan Khel-I exploratory well, the 12th exploratory well in the Tal block, was drilled on September 17, 2014 in line with the company’s aggressive drilling campaign. The well reached the depth of 4,912 metres on February 17, 2015.
During the post-acid test, the well flowed 3,440 barrels per day of condensate and 40.56 million cubic feet of gas per day.
“This discovery would not have been possible without the assistance of the government of Pakistan,” he said.
The Tal block is operated by the MOL Group with its joint-venture partners including Oil and Gas Development Company, Pakistan Petroleum Limited, Government Holdings Private Limited and Pakistan Oilfields Limited.
MOL Pakistan says it is planning to add this latest discovery to the pipeline network on a fast-track basis, which will contribute to meeting the energy requirements of the country.
In this regard, a comprehensive appraisal programme is being finalised, including two possible appraisal well locations. MOL Pakistan, an oil and gas company owned by the MOL Group that is known worldwide for mega business ventures in different investment fields, launched its operations in Pakistan in 1997 in the exploration and production sector and has, ever since, made a number of mega oil and gas discoveries.