MOL reports new crude oil, gas discovery in Pakistan’s Tal Block

BUDAPEST, Hungary -- MOL Group made a new oil and gas discovery in the MOL-operated TAL Block in Pakistan, the company said.

The Makori-Deep-1 exploration well reached its target depth of 5,067 m on April 17, 2016. During testing, the well flowed oil and gas in the Lockhart-1 formation at a rate of 2,020 bopd and 900 boed (5.4 MMscfd), respectively.

This discovery marks the company's eighth in the TAL Block. As the operating shareholder, MOL is responsible for over 80,000 boed gross production. The company’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 twelfth over three different blocks (eight operated).

“We are very proud of our eighth discovery in the MOL-operated TAL Block. This new discovery has de-risked exploration in deeper fault blocks in the TAL Block leading to new upside opportunities,” Dr. Berislav Gašo, MOL Group’s E&P COO, said.