OMV Finds More Gas, Condensate Onshore Pakistan

OMV Finds More Gas, Condensate Onshore Pakistan

Austria's OMV reported Thursday that it has made a gas and condensate discovery in the Mehar block onshore Pakistan.

The firm said that the discovery was made by the Sofiya-2 exploration well and that testing flowed a total of 18 million cubic feet of gas per day with an additional 1,550 barrels of condensate per day.

The well is located at the Mehar exploration license in Pakistan's Sindh Province, approximately six miles north of the Mehar gas and condensate field. OMV holds a75-percent share of the license, with joint venture partners Government Holding Private Limited, Ocean Pakistan Limited and Zaver Petroleum Company holding five percent, 15 percent and five percent respectively.

OMV said the new discovery's proximity to the Mehar field provides an opportunity to use the Mehar gas and condensate plant for processing. It added that the Mehar field development is in its mechanical completion phase, with production start-up planned for the fourth quarter of this year.

OMV Head of Exploration and Production Jaap Huijskes commented in a company statement:

"We are very pleased with this result. It provides the opportunity to utilize the Mehar gas plant for processing of Sofiya gas and condensate, which should enable cost-effective and accelerated development of this new discovery. This discovery adds value to the Petronas acquisition in 2011, which is an important part of our growth strategy in Pakistan."

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