MOL Group announces its seventh discovery in TAL Block

MOL Group announces its seventh discovery in TAL Block

MOL Group has announced a new commercial discovery from the MOL operated exploration well Mardan Khel-1 in the TAL Block. In addition, MOL has signed a farm-in agreement for the DG Khan block in Pakistan. MOL is acquiring a 30% non-operating interest from Pakistan Oil Fields Limited (‘POL’) in the block.

MOL has a well-established, proven track record and successful presence in the country with five blocks and over 15 years of operation. As the operating shareholder of the TAL Block, MOL is currently responsible for over 70 thousand boepd (kboepd) gross production. Mardan Khel-1 was drilled as an exploration well in TAL Block, located in the Khyber Pakhtunkhwa Province. It was spudded on September 17, 2014 and the well reached target depth of 4,912 meters on February 17, 2015.

The well tested four formations and all flowed with high volumes of gas and condensate.
The current total production capacity of the facilities in the Tal block is 80 kboepd gas and 37 kboepd of liquids per day. This capacity is sufficient to integrate the new well. MOL intends to carry out an appraisal plan including additional wells on the Eastern and Western parts of the structure. Our partners in the JV consortium are OGDC (30%), PPL (30%), POL (25%) and GHPL (5%).

Mr. Alexander Dodds, MOL Group E&P, Executive Vice President commented: ‘MOL Group is extremely pleased to announce its seventh discovery in TAL Block, which we have operated since 1999. MOL Pakistan has a successful track record in the TAL Block and we are grateful to our partners for their continued support and confidence in our capabilities to operate within the JV. Pakistan is a promising and prospective country with significant remaining undeveloped resources and reserves, and MOL Group remains committed to investing in Pakistan’s oil and gas sector as our recent farm-in agreement and continued investment in the TAL block demonstrates.’

Source: MOL Group E&P

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