Pakistan Oilfields Limited has announced a significant gas and condensate find at its Makori Deep-03 development well in the TAL Block, Karak District, Khyber Pakhtunkhwa.
The discovery, operated by MOL Pakistan Oil & Gas Co. B.V., represents one of the most productive onshore strikes in recent years and promises to bolster Pakistan’s domestic energy supply.
- Spud Date & Depth:
Beginning on December 12, 2024, drilling at Makori Deep-03 has reached a recorded depth of 3,887 meters in the Lockhart formation.
- Operator & Ownership:
The TAL joint venture is led by MOL (10% working interest), with POL holding 25%, the Oil and Gas Development Company (OGDCL) 30%, Pakistan Petroleum Limited (PPL) 30%, and Government Holdings Private Limited (GHPL) 5%.
- Geological Target:
The Lockhart formation is known for its high-pressure, high-productivity gas reservoirs. Precise seismic mapping and offset data from neighboring wells guided the drilling trajectory to maximize reservoir contact.
- Flow-Test Results
After drilling and well cleanout were finished, a 32/64 fixed choke was used for a series of controlled flow tests at a flowing wellhead pressure of 4,744 psi.
The results revealed remarkable long-term output rates:
- Natural Gas: 22.08 million standard cubic feet per day (MMSCFD)
- Condensate: 2,112 barrels per day (BPD)
- Formation Water: 15 BPD
These metrics place Makori Deep-03 among the highest-flowing wells in the TAL Block, indicating both reservoir quality and effective completion techniques.
Read more: Massive gas reserves discovered in Khairpur, Sindh
Economic Impact and Shareholder Value
Analysts at AKD Securities estimate that this discovery will contribute an incremental Rs 9.2 per share to POL’s annualized earnings an uplift that reflects POL’s 25% stake in revenues from gas and condensate sales.
OGDCL and PPL are projected to see EPS increases of approximately Rs 0.80 and Rs 1.30 respectively, based on their working interests. The fast-track tie-in to existing infrastructure is expected within two months, allowing early cash flows and rapid return on investment.
Historical Context and Future Outlook
Last year’s discovery at the Razgir-1 exploratory well in the Kawagarh formation (Kohat District) signaled growing momentum for onshore exploration in Khyber Pakhtunkhwa. Makori Deep-03 builds on this success, demonstrating that world-class reserves remain underexplored onshore.
Next Steps Include:
1- Infrastructure Tie-In: Lay flow-lines and install surface facilities by late August 2025.
2- Reservoir Appraisal: Conduct pressure-build up tests and acquire additional cores to refine volumetric estimates.
3- Step-Out Drilling: Mobilize rigs for offset and stratigraphic wells targeting parallel structures and deeper horizons.
Environmental and Community Considerations
POL and MOL have committed to international environmental standards during the drilling and completion phases minimizing flaring, managing waste responsibly, and engaging local communities through employment and infrastructure support. The companies plan further social investment programs in Karak District to ensure the benefits are widely shared.
The Makori Deep-03 success represents a pivotal moment for Pakistan’s upstream industry. With robust production test results, clear economic upside for investors, and alignment with national energy objectives, this discovery has the potential to reshape the onshore gas landscape.
As tie-in operations proceed, stakeholders will be watching closely for updated reserves certifications and appraisal plans that could signal even larger resource potential in the TAL Block.