Hungary-headquartered MOL Group said July 14 it has found gas and condensate in the TAL Block in Pakistan, marking its 13th discovery in the country.
Drilled to a total depth of 4,939 m on May 23, the Mamikhel South-1 exploratory well flowed gas and condensate from the Lockhart and Hangu formation at a flow rate of 6,516 boe/d upon test, MOL said in a news release. Additional testing is ongoing.
“This new discovery has derisked an exploration play in deeper reservoir in the TAL Block, leading to new upside opportunities,” Berislav Gašo, executive vice president of E&P for MOL, said in the release. “The Mamikhel South-1 discovery will also help to improve the energy security of the country from indigenous resources.”
MOL is operator of the block. Partners in the joint venture consortium are Oil & Gas Development Co. Ltd., Pakistan Petroleum Ltd., Pakistan Oilfields Ltd. and Government Holdings (Private) Ltd.
Recommended Reading
Rystad Sees Little Support for Henry Hub in Coming Weeks
2024-01-26 - Rystad Energy sees little support for Henry Hub prices in the U.S. as dry gas production rises after the Jan. 17 Arctic freeze that impacted all of the Lower 48 states.
Asia Spot LNG at 3-month Peak on Steady Demand, Supply Disruption
2024-04-12 - Heating demand in Europe and production disruption at the Freeport LNG terminal in the U.S. pushed up prices, said Samuel Good, head of LNG pricing at commodity pricing agency Argus.
US Natgas Prices Hit 5-week High on Rising Feedgas to Freeport LNG, Output Drop
2024-04-10 - U.S. natural gas futures climbed to a five-week high on April 10 on an increase in feedgas to the Freeport LNG export plant and a drop in output as pipeline maintenance trapped gas in Texas.
US NatGas Futures Hit Over 2-week Low on Lower Demand View
2024-04-15 - U.S. natural gas futures fell about 2% to a more than two-week low on April 15, weighed down by lower demand forecasts for this week than previously expected.
Report: Freeport LNG Hits Sixth Day of Dwindling Gas Consumption
2024-04-17 - With Freeport LNG operating at a fraction of its full capacity, natural gas futures have fallen following a short rally the week before.