POL reports hydrocarbon discovery in KP

KARACHI: Pakistan Oilfields Limited (POL) has announced promising new results from further testing at the Razgir-1 exploratory well, located in the Lockhart formation in Kohat district, Khyber Pakhtunkhwa.

In a notice to the Pakistan Stock Exchange (PSX) on Monday, POL, a subsidiary of Attock Oil Company Limited, UK, and part of Coral Holding Limited, updated stakeholders on the latest developments. This follows previous updates from July 29 and August 6, 2024, regarding testing results from the Lumshiwal and Kawagarh formations at the same well.

The company reported that the recent drill stem test (DST) on the Lockhart formation revealed the presence of hydrocarbons. According to POL, the DST conducted by MOL, the operator of the TAL Block, demonstrated positive results, confirming the potential of the Lockhart formation.

The TAL joint venture, which includes OGDCL (30 per cent working interest), MOL Pakistan Oil & Gas Co BV (10 per cent, as the operator), PPL (30 per cent), POL (25 per cent), and Government Holdings Private Limited (GHPL) (5 per cent), is overseeing the project.

POL’s notice detailed that following an acid stimulation job, the well tested at 17.9 million standard cubic feet per day (mmscfd) of gas and 153 barrels per day (bpd) of condensate, measured at a 40/64” fixed choke size and a flowing wellhead pressure of 2,017 psi.

The company is in the process of finalizing a testing and completion strategy to maximize production from the well. POL also noted that work has begun on laying a flow line, approximately 20 kilometres long, to connect the well with the production facility.