New oil and gas reserves discovered from Kohat’s Tal Block

PESHAWAR (92 News) – New reserves of oil and gas were discovered from Tal Block, Kohat on Thursday. According to the Pakistan Oil Field Limited, Makori Deep II well will produce 18.25 MMCFD gas and 1,844 barrel raw oil per day. The discovery will save the precious foreign exchange. Moreover, the new discovery will leave positive effects on the oil sector. The commercial production from the new oil and gas reserves will begin in December this year. The field accounts for 20% of Pakistan s oil production, amounting to 17,000 barrels per day. Six discoveries have been made in the block, the first in 2002 and the most recent in 2011. Oil and Gas Development Company, Pakistan Petroleum Limited and Pakistan Oilfields hold ownership stakes of 28, 28 and 21 percent, respectively, in Tal Block. The field has 55 percent as the success ratio of discovery in Tal Block, compared to 33 percent in other areas. MOL Group is responsible for making further discoveries and has added 145 million cubic feet of natural gas per day.