Pakistan Oilfields announces significant hydrocarbon find in Khyber Pakhtunkhwa

Pakistan Oilfields Limited (POL), an oil and gas exploration company, announced further testing results from the newly discovered Razgir-1 exploratory well in the Lockhart formation, located in the Kohat district of Khyber Pakhtunkhwa.

The listed company, which is a subsidiary of Attock Oil Company Limited, UK, and its ultimate parent is Coral Holding Limited, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.

“This is in continuation of our previous letters dated July 29, 2024 and August 06, 2024 where we shared the testing results of the Lumshiwal and Kawagarh formations at the Razgir-1 well. We are now pleased to inform you about the testing results of another formation, ‘Lockhart’ from the same well.

“As per information received from MOL, (the operator of TAL Block), hydrocarbons have been discovered as a result of Drill Stem Test (DST) conducted at the Razgir-1 well to assess the potential of Lockhart formation,” POL said in its notice.

The TAL joint venture comprises of OGDCL (30% working interest), MOL Pakistan Oil & Gas Co. B.V. (the Operator) (10%), PPL (30%), POL (25%), and Government Holdings Private Limited (GHPL) (5%).

It is pertinent to mention that MOL Group is a multinational oil and gas company headquartered in Budapest, Hungary.

OGDCL announces discovery of gas condensate in KP

According to the POL notice: “After acid stimulation job, the well tested 17.9 million standard cubic feet per day (mmscfd) of gas per day, 153 barrels per day (bpd) of condensate at 40/64” fixed choke size at the flowing wellhead pressure of 2,017 psi.“

The E&P said that a testing and completion strategy is currently being finalized for the optimum production from the well. “Laying of around twenty kilometer flow line to connect this well with the production facility has been initiated,” it said.

DST is a procedure for isolating and testing the surrounding geological formations through the drill stem. The test is a measurement of pressure behavior at the drill stem and is a way to obtain important fluid sampling information and to establish the probability of commercial production.

“Accordingly, it should be borne in mind that actual production may differ significantly from the test results,” said POL.

Meanwhile, Pakistan Petroleum Limited (PPL) in a separate statement said the new discovery has de-risked further exploration play in TAL Block, leading to new upside opportunities.

“The said discovery will also help and contribute towards improving energy security of the country from indigenous resources and add to the hydrocarbon reserves base of PPL, its joint venture partners and the country,” it added.