a day ago
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- Business Recorder
Significant hydrocarbon discovered in Karak
KARACHI: A significant new hydrocarbon discovery has been announced in the country, following the successful testing of the Makori Deep-3 Development Well located within the TAL Joint Venture (JV) in the Karak District, Khyber Pakhtunkhwa Province. The well is operated by MOL Pakistan.
Drilling operations for the Makori Deep-3 Well began on December 12, 2024, and reached a final depth of 3,887 meters. Upon completion, the well demonstrated substantial flow rates from the Lockhart Formation, yielding 22.08 million standard cubic feet of gas per day (MMSCFD) and 2,112 barrels per day of condensate.
The well also produced 15 barrels per day of formation water, tested on a fixed choke at a flowing wellhead pressure of 4,744 psi.
Both major Pakistani oil and gas entities, Oil and Gas Development Company Limited (OGDCL) and Pakistan Oilfields Limited (POL), have confirmed their respective working interests in the discovery.
OGDCL holds a 27.763 percent working interest in the development phase of this Block. On the other hand, Pakistan Oilfields Limited (POL) holds a 25 percent pre-commerciality working interest in the TAL Block.
This successful testing of Makori Deep-3 is anticipated to significantly bolster Pakistan's energy reserves and contribute to the nation's energy security. Pakistan Oilfields Limited expects the well to be connected to the production line within two months.
The information was submitted in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, for dissemination among their members. Both companies officially communicated the discovery to the Pakistan Stock Exchange Limited, with copies also sent to the Securities & Exchange Commission of Pakistan.
Copyright Business Recorder, 2025
