KARACHI: Pakistan Oilfields Limited (POL) has discovered hydrocarbon at its development well Makori East-06 (TAL Block), which has been drilled and is currently under testing phase, a statement issued by the company said on Tuesday.
The pre-commerciality working interest of POL in the block is 25 percent. The well has tested 1,817 barrels / day of condensate and 4.63mmcfd of gas and production from the well is expected to start from February 2018, it added.
TAL block is situated in Zone 1 and the discovery will be priced under the Petroleum Policy 2012.
“We forecast this discovery to have annualised incremental earnings / share impact of Rs0.15, Rs0.33 and Rs2.06 on Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL) and Pakistan Oilfields Limited (POL), respectively,” said Faizan Ahmed at JS Global.