OMV announces new gas discovery in the Latif block, Pakistan
October 12, 2015 - 12:00 am (CEST)
- New gas reserves discovered through Latif South-1 exploration well
- The well tested 2,500 boe/d (15 mn scf/d; gross) of gas
OMV, the integrated, international oil and gas company, announces the discovery of gas in the Latif South-1 exploration well in the Latif exploration license. The presence of hydrocarbons was proven through wireline logging and testing operations. During testing, the well flowed 2,500 boe/d (15 mn scf/d; gross) of gas from Lower Goru Intra C Sands. This discovery has opened up new exploration opportunities in the area. Further appraisal work is needed to confirm the size of the discovery.
The Latif South-1 exploration well is located in the Latif exploration license in the Sindh Province of Pakistan, around 25 km south of the Latif gas field. The new discovery’s proximity to the Latif field provides the opportunity of using the Latif facilities for transmitting the gas to nearby existing processing facilities. OMV (PAKISTAN) Exploration Gesellschaft m.b.H. holds a 33.4% share in the exploration license; joint venture partners are Pakistan Petroleum Limited (33.3%) and Eni Pakistan (M) Limited (33.3%).
Johann Pleininger, OMV Executive Board Member responsible for Upstream: "We are very pleased with this exploration success. The appraisal and development of this discovery will potentially enable us to enhance the production in Pakistan."
Background information:
OMV Aktiengesellschaft
With Group sales of EUR 36 bn and a workforce of around 25,500 employees in 2014, OMV Aktiengesellschaft is one of Austria´s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio. 2014 daily production stood at approximately 309,000 boe/d. In Downstream, OMV has an annual refining capacity of 17.8 mn tonnes and approximately 4,100 filling stations in 11 countries as of end of 2014. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2014, gas sales volumes amounted to 114 TWh.
OMV (PAKISTAN) Exploration Gesellschaft m.b.H.
OMV Pakistan, a wholly-owned subsidiary of OMV Exploration & Production GmbH, started exploration activities in the desert area of Sindh in 1991 and is amongst the largest international natural gas producers in Pakistan in terms of operated volumes. As operator of the Sawan, Miano, Latif, Tajjal, and Mehar gas fields, OMV, together with its partners, delivers around 300 mn scf/d and 1.5 kbbl/d condensate to the local market. As a key investor in the oil and gas sector in the region, OMV also holds a 10% stake in Pak-Arab Refinery Limited (PARCO), a joint venture between Pakistan and Abu Dhabi.