The MOL Group, country’s second-largest producer of LPG, crude oil and condensate has announced huge discovery of oil and Gas in TAL block located near Kohat.
According to the announcement Mamikhel South-1 exploratory well, which is located in Pakistan’s TAL Block, achieved a flow rate of 6,516 barrels of oil equivalent per day during testing, according to the company, which noted that further testing of the well is currently ongoing and final production could vary significantly from test results.
Mamikhel South-1 marks MOL’s 13th discovery in Pakistan and the 10th discovery in the TAL Block. MOL’s 13 oil, gas and condensate finds have all been made since the year 2000. MOL group currently addresses around 9pc of the natural gas needs of Pakistan, 25pc of oil and condensate needs and 22pc of LPG requirements.
This discovery could potentially put a huge dent in the country’s oil import bill because Pakistan relies on imports for about 80 per cent of its energy requirements, spending nearly $13 billion a year on crude oil and gas. The country’s total oil production stands at 89,000 barrels per day (bpd) and 3,936 million cubic feet per day (mmcfd).