Margala & Margala North Blocks
MOL Pakistan, as an operator, acquired two more petroleum exploration licenses on November 08, 2006 for the Margala Block (3372-20) (1,386.83 sq. km) and Margala North Block (3372-20) (1,561.72 sq. km), which fall over the areas of the Federal Capital and parts of the Punjab and KPK provinces.
MOL Pakistan owns 70% working interest in both blocks along with Pakistan Oilfields Limited (POL) with 30% working interest. Since the award of Margala blocks, MOL Pakistan has carried out a number of detailed geological studies and acquired more than 1000 line km 2D seismic data in both blocks.
In the Margala Block, after having the sufficient seismic data acquisition and its interpretation, first exploratory well, MG-1, was spudded on July 17, 2010 and reached a total depth of 5300 m on January 23, 2011. The well was plugged and suspended, as potential reservoirs were not encountered. A detailed post-drilled evaluation of MG-1 well, both in terms of geological and geophysical aspects was carried out for future work program in the exploration license that comprise of further 2D seismic data acquisition, processing, interpretation/mapping of newly acquired and existing 2D seismic data. This work program will be accomplished during the eighteen (18) months extension period in 3rd Contract Year of Phase-1 of Initial term of Exploration License.
While in Margala North Block, the extensive work program was carried out by the Margala North JV that included seismic acquisition, interpretation and processing of 513 L.Kms 2D seismic data as against the commitment of 200 L.Kms. Furthermore, one exploratory well i.e. Margala North -1 (MGN-1) was drilled to the depth of 4248 meters in the area which did not prove as commercial discovery and has been suspended. Margala North JV has fulfilled all of its obligations of the work program by investing around US$ 62 Million and has surrendered the petroleum rights over the license area approval of which is awaited.