Hungarian oil and gas group MOL has announced on Friday a new oil and gas discovery in the TAL Block it operates in Pakistan. This marks the 8th discovery in the block and Mol's 12th discovery in the country, portfolio.hu reports.
The Makori-Deep-1 exploration well reached its target depth of 5,067 meters on 17th April, 2016. During testing, the well flowed oil and gas in Lockhart-1 formation at a rate of 2,020 bopd and 900 boepd (5.4 mmscf/d), respectively, Mol said in a statement on the website of the Budapest Stock Exchange (BSE) today.
This discovery marks the 8th one in the TAL block. As the operating shareholder Mol is currently responsible for over 80,000 boepd gross production. Mol’s partners in the JV consortium are OGDC, PPL, POL and GHPL.
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 MOL's 12th over three different blocks (8 operated) in the country.
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