Hungarian fuels group MOL has discovered new carbon hydrogen reserves in the Tal block, Pakistan.

MOL Pakistan Oil and Gas Company B.V as an operator of Tal block announced on Monday discovery of oil and gas reserves of around 12 mmcfd gas and 430 bbls per day condensate, Daily Times reported.

MOL has been working in Pakistan through its subsidiary MOL Pakistan Oil & Gas Co. since 1999.

With a 10% working interests, MOL Group operates the Tal exploration licence which covers 3,715 square kilometres of the north-western part of the country.

According to a company announcement, MOL Pakistan Oil and Gas Company B.V as an Operator of Tal block along with joint venture partners Government Holdings (Private) Limited (GHPL), Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL) and Pakistan Oilfields Limited (POL) announced that that hydrocarbons have been encountered in its exploratory well, Maramzai-1, which is being drilled in Tal block, located in NWFP Province of Pakistan.

In the Lockhart Formation, upper 75 meters of the drilled section produced around 12 mmcfd gas and 430 bbls per day condensate, Daily Times said.

The discovery is made in the uppermost reservoir section of the well and drilling is continued to penetrate and test the lower potentially prospective zones.

The full extent of discovery from the well will be known once the well reaches the planned total depth during next 45 days.

Up to date MOL Group has made two major hydrocarbon discoveries to its credit as operator in the Tal Block. The exploration area extends over the sedimentary basin's accumulation zone, at the foothills of the Himalayas.

There was a significant gas discovery at wildcat Manzalai-1, in 2002. Following construction of surface facilities, test production has already started, with considerable gas and gas-condensate capacity. Production capacity: 50MMcfd natural gas, 600 bopd condensate.

In addition to ongoing production, appraisal of the Manzalai field, and exploration of petroleum potential in the rest of the block are being carried out. The latter project led to the discovery of an oil and gas field near the Makori-1 well, in 2004. There is significant production capacity for oil and gas from this field.

Portfolio.hu