MOL discovers oil, gas in KP

[farhan_9909]

KARACHI: MOL, the operator of Tal block in the Khyber Pakhtunkhwa, has encountered hydrocarbons in development well Makori East-5, Pakistan Oilfields Limited that has pre-commerciality working interest of 21 per cent in Tal block stated in a stock filing on Monday.

Other stakeholders include OGDC and Pakistan Petroleum with 28pc each. Tal block assumes significance in the oil and gas exploration and production (E&P) sector as it accounts for 23pc (20,000 barrels per day) of oil and 7pc (283mmcfd) of the country’s gas production.

Regarding the latest discovery, POL said on Monday that the well has been completed in Lockhart, Hung and Lumshiwal formation.

After stimulation through acid job, the well has tested 2,836 barrels per day of condensate, 19.26 mmscfd of gas per day with 121 barrels per day of water at 40/64” fixed choke size at the flowing wellhead pressure of 2,718 psi. The well is currently under cleaning phase. Production from the well is expected to start from September 2016.

E&P sector analysts at Topline Securities observed that the new find was in addition to the existing production of around 14,000bpd of oil, which accounts for around 70pc of Tal block and 80mmcfd of gas from the Makori East field.

Based on average price of Arab Light Crude at $44/bbl for FY17, Topline expects per share annualised impact on POL, PPL and OGDC at Rs2.60; Re0.40 and Rs 0.20, respectively.

Analysts at Invest & Finance Securities Limited observed that the Makori East-5, development well was spud on Sept 8, 2015 with initial drilling target depth of 5,060 meters. The completion of the well was expected in April 2016, but was delayed by over two months, due to slow pace of exploration activities backed by low oil prices.

Published in Dawn, July 12th, 2016

http://www.dawn.com/news/1270276/mol-discovers-oil-gas-in-kp

 

[Sipahi]

@farhan_9909 bhai what is going on in shale gas field ??

 

[shah1398]

MOL, the operator of Tal block in the Khyber Pakhtunkhwa, has encountered hydrocarbons in development well Makori East-5, Pakistan Oilfields Limited that has pre-commerciality working interest of 21 per cent in Tal block stated in a stock filing on Monday.

Anxiously waiting for some good news from MOL in Marwat bloc which is stated to be having huge reservoirs of Natural Gas esp. Just have a look here.

PS: There is no gas pipeline in this very area as many wud assume it to be some gas leakage thing.

 

[CHACHA"G"]

Great find very good one , and its 2836B per day not bad either , Pakistan have lot of oil and gas its just us who have to find it and take it out .
@farhan_9909 , @shah1398 Do our armed forces have there own Oil and Gas Fields , If not Is it not good for them to have there won fields and Wells of Oil and Gas, Just say Air-Force , Army and Navy need 4000B of Oil per Day and they have 3 Wells Producing 2500B per day(2500 * 3 = 7500B\Day) , That will give them almost free Oil and even some Profit too. And Gas can be used to make Electricity.
Same I also love to see a Merchant Navy Fleet in PN , Minimum strong Medium seize that will give Extra Millions of $$$ per year to our Navy and that Money can be used to so many things.

 

[niaz]

Great find very good one , and its 2836B per day not bad either , Pakistan have lot of oil and gas its just us who have to find it and take it out .
@farhan_9909 , @shah1398 Do our armed forces have there own Oil and Gas Fields , If not Is it not good for them to have there won fields and Wells of Oil and Gas, Just say Air-Force , Army and Navy need 4000B of Oil per Day and they have 3 Wells Producing 2500B per day(2500 * 3 = 7500B\Day) , That will give them almost free Oil and even some Profit too. And Gas can be used to make Electricity.
Same I also love to see a Merchant Navy Fleet in PN , Minimum strong Medium seize that will give Extra Millions of $$$ per year to our Navy and that Money can be used to so many things.

Kindly note that 2836 bbl per day is not crude oil. It is 'condensate' which is basically light Naphtha. The gas field appears to be similar to Dhodhak field, producing 'Wet natural gas'.

Condensate normally contain lighter hydrocarbons and is split into lighter & heavier fractions. Lighter fractions being feed stock for polythene production and heavy ends used in gasoline manufacture; however this requires further processing. One would need at least 20 K bbl per day to set up a Condensate processing refinery. Alternate would be to truck the same to Attock Oil Refinery at Morgah (if it has the spare capacity to handle it) or all the way to Karachi for export.

Condensates can also be burned like any other hydrocarbon. Quantity is rather small, therefore it may be more economic to install a small gas turbine nearby and burn the condensate as it is to generate much needed electricity.

 

[BetterPakistan]

Till now KPK is producing the most oil. Since 2013 to today KPK has substantially increased its oil production.

 

[shah1398]

Great find very good one , and its 2836B per day not bad either , Pakistan have lot of oil and gas its just us who have to find it and take it out .
@farhan_9909 , @shah1398 Do our armed forces have there own Oil and Gas Fields , If not Is it not good for them to have there won fields and Wells of Oil and Gas, Just say Air-Force , Army and Navy need 4000B of Oil per Day and they have 3 Wells Producing 2500B per day(2500 * 3 = 7500B\Day) , That will give them almost free Oil and even some Profit too. And Gas can be used to make Electricity.
Same I also love to see a Merchant Navy Fleet in PN , Minimum strong Medium seize that will give Extra Millions of $$$ per year to our Navy and that Money can be used to so many things.

I really have no experience in this field but what i know is that normally the quoted amount is of condensate who is needed to be refined and different products are obtained after that.
Nonetheless all 3 Armed Forces are dependent upon the oil refineries of Pakistan but yes they keep "war reserves" even at unit level (this is minimum amount of fuel maintained always).