Kohat: MOL Pakistan, operating within the TAL Block, has made a noteworthy discovery at the Kawagarh-1 formation through the Razgir-1 exploratory well. This discovery has resulted in a production of 159 barrels per day of condensate and 16.4 million cubic feet per day of gas. With this new find, the cumulative production figures for Razgir-1 have increased to 409 barrels per day of condensate and 36.4 million cubic feet per day of gas.
According to AKD Securities Limited, the discovery of the Kawagarh-1 formation is expected to positively affect the earnings per share (EPS) for stakeholders such as OGDC, PPL, and POL in the fiscal year 2025. The anticipated EPS impacts are PkR0.27 for OGDC, PkR0.43 for PPL, and PkR3.1 for POL. Following this discovery, the post-commerciality ownership stakes in the TAL Block are confirmed to be 27.8% each for OGDC and PPL, and 21.05% for POL.