Pakistan Oilfields Limited (POL), an oil and gas exploration company, has announced the discovery of hydrocarbon reserves at its Razgir-1 exploratory well located in the Kohat district of Khyber Pakhtunkhwa. The listed company, a subsidiary of the UK-based Attock Oil Company Limited with Coral Holding Limited as the ultimate parent, disclosed this development in a notice to the Pakistan Stock Exchange (PSX) on Monday.
According to information from MOL, the operator of the TAL block, hydrocarbons were discovered in the Razgir-1 well, which was spudded on January 9, 2024, and drilled to a depth of 3,950 meters. POL reported that the Drill Stem Test (DST) conducted at the well indicated a daily production potential of 20 million standard cubic feet (MMscf) of gas and 250 barrels of condensate at a fixed choke size of 40/64″ with a flowing wellhead pressure of 2,348 psi. The testing operations are ongoing to determine the well’s true potential.
MOL Group, a Hungarian multinational oil and gas company headquartered in Budapest, operates the TAL block. POL clarified that the DST is a method for isolating and testing geological formations via the drill stem, providing critical fluid sampling data and estimating the likelihood of commercial production. They cautioned that actual production could differ significantly from test results.
In the TAL block, Oil and Gas Development Company Limited (OGDC), Pakistan Petroleum Limited (PPL), and POL hold stakes of 27.8%, 27.8%, and 21.1%, respectively, as noted by Arif Habib Limited (AHL).
