MOL announced on Friday the discovery of oil and gas in one of its appraisal wells. The Hungary-based oil exploration company said that the Makori East-2 well would yield 4,106 barrels of oil per day and 14.8mmcfd of gas. Pakistan Oilfields Limited holds a pre-commercial working interest of 25 percent, data sent to Karachi Stock Exchange said on Friday.
MOL, the operator of the Tal Block informed the bourse that hydrocarbons had been encountered in its Makori East-2 appraisal well, which has been drilled and is currently under testing phase. As a result of Drill Stem Test (DST) conducted at the Lockhart Formation, the well has tested 4,106bbls per day of oil (with an API gravity 37) and 14.8mmcfd of gas per day at 32/64-inch fixed choke sizes.
The well has a flowing wellhead pressure of 4531 psi while Lumshiwal and Hungu formations have tested 794bbls per day of oil (with an API gravity 38) and 2.5mmcfd of gas per day at 32/64-inch fixed choke sizes at flowing wellhead pressure of 795psi. An Acid job is also planned in Lumshiwal and Hungu formations to stimulate these formations.
The well is planned to produce simultaneously from Lockhat, Lumshiwal and Hungu formations and its actual flow rate may differ from the rates mentioned above. Production from the well is expected to commence from October 2012. The drill stem test (DST) is a procedure for isolating and testing surrounding geological formations through the drill stem. The test is a measurement of pressure behaviour at the drill stem and is a way to obtain important fluid sampling information and to establish the probability of commercial production. Experts say that actual production may differ significantly from the test results.