MOL Pakistan makes 3 new discoveries in the TAL Block with Razgir-1 exploratory well

Budapest/Islamabad, 16 August 2024: MOL Pakistan has made 3 significant gas discoveries in the TAL Block, where the company has operated for 25 years and produced hydrocarbons for 19 years. The Razgir-1 exploratory well was spudded on 9 January 2024, and drilled to 3,950 meters. Three successful well tests have been performed so far in 3 separate geological formations. MOL is the operator of the TAL Block and its share is 8.4 % of the volumes produced.

MOL spudded the Razgir-1 well in January 2024 and completed it ahead of the target date while testing operations are in progress to ascertain the full potential of the well.

Gas and condensate were discovered in 3 reservoirs. In total, “Lumshiwal-1 Formation” tested approx. 3800 boepd of gas and condensate. The “Kawagarh Formation” tested at approx. 3000 boepd, while in the “Lockhart Formation”, an approximate flow rate of 3500 boepd was achieved. With production strategy still to be assessed, MOL’s share is expected in the 400-800 boepd range, adding up to cca. 1% to the Group’s total hydrocarbon production.

“By using state-of-the-art technology combined with the creativity of our highly skilled colleagues, MOL Pakistan was able to secure these discoveries in the TAL Block, in a mature area where the company has carried out exploration and production activity for 25 years. This result shows the resilience and professionalism of our team that provides energy supply security in Pakistan for two decades. The new well marks the long-awaited exploration campaign recommencement in the TAL Block and a major milestone for MOL Pakistan. We look forward to the production phase of the project” – said Zsombor Marton, Executive Vice President, Exploration and Production, MOL Group.

MOL Pakistan, a fully owned subsidiary of MOL Group, has been operating in Pakistan since 1999. The Company holds working interests in 4 blocks and operatorship in  the TAL and Margalla Blocks.

MOL made its first hydrocarbon discovery in Pakistan in 2002 and has since announced a total of 13 commercial discoveries, most recently in 2020 in the TAL block with the drilling of Mamikhel South-1 well. Since entering the Pakistani market, MOL has discovered more than 400 million barrels of oil equivalent of proven and probable (2P) reserves in the TAL Block. As the operating shareholder, MOL is responsible for 65 mboepd gross production in the TAL Block. MOL’s partners in the Joint Venture consortium are local O&G companies, OGDCL, PPL, POL and GHPL and MOL’s share is 8.4% of the volumes produced.

MOL Pakistan contributes substantially to the energy security of Pakistan. With the production of 15,000 barrels/day, the company is the 2nd largest condensate producer in the country, 2nd largest in LPG production with 425 metric tons/day and the 5th largest gas producer, extracting 250 million standard cubic feet/day.

The company plays an important role in MOL Group's international portfolio, representing 7% of the group’s total hydrocarbon production.

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Press contact:
@: internationalpress@mol.hu

About MOL Group

MOL Group is an international, integrated oil, gas, petrochemicals and consumer retail company, headquartered in Budapest, Hungary. It is active in over 30 countries with a dynamic international workforce of 25,000 people and a track record of more than 100 years. MOL Group operates three refineries and two petrochemical plants under integrated supply chain-management in Hungary, Slovakia and Croatia, and owns a network of almost 2400 service stations across 10 countries in Central & South-Eastern Europe. MOL’s exploration and production activities are supported by more than 85 years’ experience in the field of hydrocarbons and 30 years in the injection of CO2. At the moment, there are production activities in 8 countries and exploration assets in 9 countries. 

MOL is committed to transform its traditional fossil-fuel-based operations into a low-carbon, sustainable business model and aspires to become net carbon neutral by 2050 while shaping the low-carbon circular economy in Central and Eastern Europe.

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