The production of hydrocarbon from the Tolanj West -2, a development well in Tal block located in Kohat Plateau, Khyber Pakhtunkhwa, has successfully commenced significantly ahead of the original plan, Pakistan Oilfields (POL) said in a filing sent to the bourse on Friday.
POL, one of the largest Exploration & Production (E&P) companies in the country, shared that the production from this well was expected to start in December 2022, “however, with the best efforts of technical teams, wellhead surface facilities, and tie-in activities have made the production possible ahead of the original plan”.
“Tolanj West -2 well is currently producing 13.97 MMscfd of gas per day with 0.39 barrels per day of condensate and 2.10 barrels of water per day at the choke size of 51/64″ at the flowing wellhead pressure of 1, 103 psi,” read the notice.
The pre-commerciality working interest of Pakistan Oilfields Limited is (25%), added the company.
Earlier in August, hydrocarbon reserves were discovered in Tolanj West-02, a part of Tal block, which was jointly explored and developed by MOL, Pakistan Petroleum Limited (PPL), Oil and Gas Development Company (OGDCL), Government Holdings Private Limited (GHPL) and POL.
POL, a subsidiary of the Attock Oil Company Limited (AOC), is engaged in the exploration, drilling and production of crude oil and gas in the country and produces crude oil, natural gas, and LPG that it markets under its brand name POLGAS.
At the time of this report, the shares of POL were being traded at Rs407.80, a decline of Rs2.75 or 0.67%.
Days ago, OGDCL announced the discovery of oil reserves from its exploratory well namely Toot Deep-I well located in Attock District, Punjab.