• Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy
Saturday, May 10, 2025
Daily The Business
  • Login
No Result
View All Result
DTB
No Result
View All Result
DTB

Pakistan Oilfields announces discovery of oil & gas reserves in KP’s Kohat district

July 29, 2024
in Markets
Pakistan Oilfields announces discovery of oil & gas reserves in KP’s Kohat district
Share on FacebookShare on TwitterWhatsapp

Pakistan Oilfields Limited (POL), an oil and gas exploration company, has announced the discovery of hydrocarbon reserves at its Razgir-1 exploratory well located in Kohat district, Khyber Pakhtunkhwa.

The listed company, which is a subsidiary of Attock Oil Company Limited, UK and its ultimate parent is Coral Holding Limited, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.

“As per information received from MOL, the operator of TAL block, hydrocarbons have been discovered in exploratory well Razgir-1, which was spudded on January 09, 2024 and has been drilled down to the depth of 3,950 meter,” read the notice.

Pakistan Oilfields discovers oil & gas reserves in Attock District

It is pertinent to mention that MOL Group, is a Hungarian multinational oil and gas company headquartered in Budapest, Hungary.

Meanwhile, POL in its notice shared that as a result of Drill Stem Test (DST) conducted at the well to test the potential of Lumshiwal formation, the well has tested 20 MMscf of gas per day and 250 barrels per day of condensate at 40/64“ fixed choke size at the flowing wellhead pressure of 2,348 psi.

The company informed that the testing operations are still in progress to ascertain the true potential of the well.

“A DST is a procedure for isolating and testing the surrounding geological formations through the drill stem. The test is a measurement of pressure behavior at the drill stem and is a way to obtain important fluid sampling information and to establish the probability of commercial production,” POL informed.

“Accordingly, it should be borne in mind that actual production may differ significantly from the test results,” it added.

In TAL block Oil and Gas Development Company Limited (OGDC), Pakistan Petroleum Limited (PPL) and POL have a stake of 27.8%, 27.8%, and 21.1%, respectively, said Arif Habib Limited (AHL) in a note.

First oil discovery made in Mari D&PL

“We estimate the discovery to have an annualized earnings impact of Rs3.13/share, Re0.43/share, and Re0.27/share on POL, PPL, and OGDC, respectively,” AHL added.

Tags: energy sectorExplorationKohat districtOGDCLPakistan energy sectorPakistan Oilfields LimitedPPLPSXPSX noticeRazgir 1 exploratory wellTal block
Share15Tweet10Send
Previous Post

KSE-100 gains nearly 800 points ahead of monetary policy announcement

Next Post

Pak Army Rescues Sic Mountaineers from K2 Base Camp

Related Posts

Blasts rock Occupied Kashmir, Amritsar as Pakistan conflict escalates
Markets

Blasts rock Occupied Kashmir, Amritsar as Pakistan conflict escalates

May 10, 2025
Global investors respond positively to Pakistan’s economic reforms
Markets

Global investors respond positively to Pakistan’s economic reforms

May 9, 2025
Pakistan’s remittances hit $3.2bn in April, fall 22% MoM
Markets

Pakistan’s remittances hit $3.2bn in April, fall 22% MoM

May 10, 2025
IMF Executive Board approves $1bn loan tranche for Pakistan
Markets

IMF Executive Board approves $1bn loan tranche for Pakistan

May 9, 2025
Wall St range-bound as caution sets in ahead of US-China talks
Markets

Wall St range-bound as caution sets in ahead of US-China talks

May 10, 2025
Gold price per tola declines Rs1,800 in Pakistan
Markets

Gold price per tola declines Rs1,800 in Pakistan

May 9, 2025

Popular Post

  • FRSHAR Mail

    FRSHAR Mail set to redefine secure communication, data privacy

    126 shares
    Share 50 Tweet 32
  • How to avoid buyer’s remorse when raising venture capital

    33 shares
    Share 337 Tweet 211
  • Microsoft to pay off cloud industry group to end EU antitrust complaint

    45 shares
    Share 18 Tweet 11
  • Saudi Arabia Launches World’s First Self-Driving Flying Taxi to Transport Hajj Pilgrims

    42 shares
    Share 17 Tweet 11
  • SingTel annual profit more than halves on $2.3bn impairment charge

    42 shares
    Share 17 Tweet 11
American Dollar Exchange Rate
  • Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy
Write us: info@dailythebusiness.com

© 2021 Daily The Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy

© 2021 Daily The Business

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.