New oil reserves discovered in Pakistan, first ever discovery in the area

New oil reserves discovered in Pakistan, first ever discovery in the area
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ISLAMABAD - New oil reserves have been discovered by Mari Petroleum Company Ltd (MPCL).

MPCL has made the first-ever oil discovery in Chiltan and Moro/Mughal Kot Formations in Balochistan.

The company informed the PSX on Friday that the Ziarat Joint Venture had made a new oil discovery well Bolan East-1 in Ziarat Block, near Mach City in Kachhi district of Balochistan.

MPCL is the operator with 60 per cent working interest while Pakistan Petroleum Ltd (Europe ) holds 40pc stake in the joint venture.

The company further observed in regard to the oil discovery that the well was spud-in on May 22, 2018 and successfully drilled down to the depth of 1,500 metres, with the objectives to test the hydrocarbon potential of Dunghanj, Moro/Moghul Kot and Chiltan Formationsj.

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