ISLAMABAD: MOL, a Hungarian oil and gas company, on Friday announced that it had hit a hydrocarbon deposit at an exploratory well in Khyber Pakhtunkhwa’s Kohat district.

In a statement, the company said it has discovered gas condensate from Lockhart formation in the Razgir-1 Exploratory well, located in Kohat, as operator of the TAL Joint Venture.

The JV comprised MOL Pakistan Oil & Gas Co. B.V. (Operator) and its partners Oil & Gas Develop­ment Company Ltd, Pakistan Petroleum Ltd, Pakistan Oilfields Ltd (POL) and Government Holdings Private Ltd.

It said the well was spudded in on Jan 9, 2024 and had been successfully drilled down to the depth of 3773.98-metre true vertical depth. Based on interpretation results of wireline logs data, Lockhart Forma­tion (Exploratory Target) was tested successfully (post acid stimulation) at rate of around 17.9 million standard cubic feet per day gas and 153 barrels per day of condensate at choke size 40/64” at wellhead flowing pressure of 2017 Psi.

Published in Dawn, August 17th, 2024