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HomeBusinessPakistan Has Discovered New Oil and Gas Deposits in Khyber-Pakhtunkhwa

Pakistan Has Discovered New Oil and Gas Deposits in Khyber-Pakhtunkhwa

Pakistan has discovered new oil and gas reserves in Khyber-Pakhtunkhwa province’s Kohat district. The discovery was announced at the exploratory well in Tal Block, Mamikhel South-01 by state owned company, Pakistan Oilfields Ltd. (POL). Tal Block is considered one of the country’s largest production blocks of hydrocarbons.

POL announced in a notification on Pakistan Stock Exchange (PSX), “Well test has shown 3,240 barrels of condensate per day, 16.12 mmscf (million standard cubic feet) of gas per day, and 48 barrels of water per day.”

POL holds 21% of interest in the Tal Block while Pakistan Petroleum Ltd. (PPL) and Oil and Gas Development Company (OGDC) hold 28% of stakeholders.

MOL Pakistan, a wholly owned subsidiary of the Hungarian multinational oil and gas exploration company MOL Group, also shared the news of “important” gas and condensate reserves in Pakistan with approximately 8.4 percent in the Tal Region.

 Berislav Gaso, Executive Vice-President of Exploration and Production at MOL Group said, “I am delighted to say that we have made yet another discovery in Pakistan, This recent find de-risked an exploration play in the deeper Tal Block reservoir leading to new prospects for the upside.

The new discovery accounts for about 15 percent, and 5 percent, respectively, of Tal Block’s present total output of oil and gas. Because of its proximity to another sector, Mamikhel South is expected to be added to production shortly.

Experts welcomed the news of the recent discovery, but also called for the exploration of unconventional oil and gas reserves, such as shale oil and shale gas, and for international companies to boost the oil and gas sector in the country.



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