Business

POL, MOL discover oil and gas reserves in TAL Block

POL, MOL discover oil and gas reserves in TAL Block

KOHAT – Pakistan Oilfields Limited (POL) with 25 percent shares and MOL have made oil and gas discoveries in MOL operated TAL Block – that is located in the Kohat Plateau of Khyber Pakhtunkhwa (KP).

In what can be termed a major boost to petroleum exploration activities in the country, MOL Pakistan has made sizeable oil and gas-condensate discoveries at its exploratory wells.

Initial testing is being considered as extremely encouraging as it showed flow of crude oil at 1,844 barrels per day and 18.25 MMscf of gas. According to the data available, the new reserves will produce 18.2 million cubic feet of gas on daily basis.

The commercial production from the new oil and gas reserves will begin in December this year.

Reportedly, new hydrocarbon reserves have also been found in Makori 2 at TAL block.

Earlier, MOL was responsible for gross production of over 80,000 boepd. This new discovery has derisked exploration in deeper fault blocks in the TAL block leading to new upside opportunities.

Further, this new discovery will help to improve the energy security of the country.