MOL Announces Significant Oil Find in Pakistan

Reuters

BUDAPEST, June 10 (Reuters) – Hungarian oil and gas group MOL said on Tuesday the Ghauri Joint Venture (GJV) it partly owns had made a significant oil discovery in the Ghauri X-1 well located in the Punjab province of Pakistan.

"The well's recorded flow rate ranks it amongst the country's top oil producing wells. Based on initial evaluation of this well test, MOL believes the potential for this part of the Ghauri Block could be significant," it said in a statement.

MOL said it was too early to give a forecast for the whole block.

The joint venture comprises Mari Petroleum Company with 35 percent working interest as operator, Pakistan Petroleum Limited (PPL) and MOL with 35 percent and 30 percent working interests.

MOL also reaffirmed its commitment to increase investment in Pakistan.

(Reporting by Gergely Szakacs; Editing by Miral Fahmy)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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