May 17, 2008

New oil and gas discovery in NWFP

It is reported that MOL Pakistan Oil & Gas Co has made a new discovery of oil and gas in the TAL block which is located in the North West Frontier Province.

Following the completion of seismic acquisition and its interpretation resulting in an attractive geological prospect, the joint venture resolved to drill an exploratory well, Mamikhel-1 in fourth quarter 2006.

MOL Pakistan having a 10% working interest and as operator of TAL joint venture has been operating this block since 1999 with four other Pakistani companies i.e. OGDCL, PPL, POL and GHPL. The pre discovery working interest of the joint venture companies is MOL with 10%, OGDC 30%, PPL 30%, POL 25% and GHPL 5%.