Hungary's MOL Finds Oil At Pakistan Exploration Venture
October 14 2011 - 12:11PM
Dow Jones News
Hungarian oil and gas company MOL Nyrt (MOL.BU) said Friday it
made an oil discovery at the Halini-1 well in the Karak block in
the northeastern region of Pakistan.
MAIN FACTS:
-The Halini-1 well drilling began Jan. 7, 2011. The well has
been drilled to a depth of 5,350 meters.
-During the initial short duration tests carried out, the well
flowed at the average rate of 1,700 barrels/day of crude oil.
-The flow rates from the well are expected to increase with
further testing and stimulation treatment which is planned to be
conducted shortly.
-To determine the size of the prospect, the consortium is
planning to drill additional wells to delineate the exact extent,
size and reserves potential of this oil discovery.
-The operator of the Karak Block is Mari Gas Company Ltd.
(MARI.KA) and MOL Pakistan has a 40% interest.
-Budapest Bureau, Dow Jones Newswires, +36-1-267-0622;
budapest@dowjones.com
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