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POL projects promising outlook

Pakistan Oilfields Limited (POL) has projected stable production and a promisexploration and production, according to a report.

“Our drilling programme in 2012 achieved success in Manzalai-9, Makori East-2, Mamikhel-2 and Bela-1. Presently, four wells are under drilling in our operated and non­operated joint ventures and we are hopeful of finding new discoveries of oil and gas,” noted Dr Ghaith Pharaon, Chairman Attock Group of Companies in POL’s latest annual report.

Shuaib A Malik, CEO of POL, has expressed confidence that the production from Makori East field would enhance the company’s production numbers.Mamikhel II, an appraisal drilling of Pakistan Oilfields (POL) on Mamikhel find in Tal bloc, has flowed at a cumulative rate of 1,021bpd of condensate and 26.3mmcfd of gas.

Two formations have been tested, which include Lockart (741bpd of condensate and 18.5mmcfd of gas) and Lumshiwal (280bpd of condensate and 7.7mmcfd of gas). Testing on the third formation at Hangu is currently underway, it revealed.

Successful drilling on appraisal well is a positive development for listed joint venture partners in Tal bloc and will drive both volume and earnings

upside to the current base numbers, suggests the latest annual report of POL.

It was also revealed that a contract is awarded to install Makori gas processing plant with a capacity to handle 150mmcfd of gas and 20,000bpd oil / condensate and 420 metric tons of liquefied petroleum gas (LPG), the plant is expected to be completed in 17 months.

The Sadrail well at Ikhlas bloc has been side-tracked and drilling is in progress, it said.

At Margalla and Margalla north blocs, the initial processed seismic data has been received and exploration licence extension for both the blocs till June 30, 2013 is pending with the Petroleum Concessions director general.

At Tal Bloc in Toland area, 3D seismic acquisition is in progress.

At Chak Naurang operated by the Oil and Gas Development Company Limited (OGDCL), an exploratory well drilled down to the target depth and tested and a jet pump would be installed at the spot.

The location of Chak Naurang South-2 has been approved and it is expected that the drilling operations will commence shortly, according to the report. Besides, geological mapping has been completed in DG Khan bloc.

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