OGDC announces two hydrocarbon discoveries

OGDC announces two hydrocarbon discoveries

KARACHI: MOL Pakistan Oil and Gas Company B.V as the operator of the Tal Block and joint venture partner of Oil and Gas Development Company Limited (OGDCL) has intimated following two discoveries at Tal Block, a filing by the OGDC at the PSX on Wednesday stated.

The Talonj West-1 exploration well drilled in the Tal Block reached its total depth of 4,941 meters on April 24, 2016.

During the ongoing testing of Lumshiwal formation, the well flowed 13.1mmscfd gas through 32/34” choke size at wellhead pressure of 2103psi.

“Testing operations are still in progress to ascertain the true potential of the discovery,” OGDC said. As joint venture partner, working interest of OGDC is 27.76pc.

The Makori Deep-1 exploration well drilled in the Tal Block reached its total depth of 5,067 meters on April 17, 2016. During testing, the well flowed oil and gas in Lockhart-1 formation at the rate of 2,020 barrels of oil per day and 5.4mmscf/d respectively.

This discovery will help mitigate the energy crisis in the country, OGDC said. As joint venture partner, working interest of OGDC is 27.76pc.

The company also stated that Tal Block is operated by MOL whereas OGDC, PPL, POL and Government Holdings Limited are joint venture partners.

OGDC stated that the information submitted on Wednesday was in compliance of code of corporate governance for dissemination amongst members of the stock exchange.

Meanwhile, Pakistan Oilfields Limited, the operator of Tal block, said its pre-commerciality working interest in an exploratory well — Makori Deep-1 — is 25pc.

Source: http://www.dawn.com/news/1270594/ogdc-announces-two-hydrocarbon-discoveries

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