[February 22, 2006] MOL says reports of gas discovery in Pakistan premature Tweet (Hungarian News Agency Via Thomson Dialog NewsEdge)Budapest, February 22, 2006, (MTI-ECONEWS) - MOL Pakistan Oil and Gas, a wholly-owned subsidiary of Hungarian oil and gas company Mol, announced on Wednesday that news about the discovery of a major gas field in Pakistan was premature. The company would only confirm that test drilling and technical appraisal of the Manzalai-2 well, in the region's Tal block, had not yet been completed, despite hopes the tests would be finished earlier. "Although the test results to this point are encouraging, without the final results any speculation about the Tal block or the latest finds are therefore premature," the statement said. Earlier on Wednesday, press reports said gas deposits had been found at the site. MOL's unit in Pakistan holds 10pc of the joint venture carrying out the exploration at the site. The other stakeholders include Pakistan Petroleum Ltd, Pakistan Oilfields Ltd and Pakistan's biggest energy explorer Karachi Oil and Gas Development Co, with a combined stake of 85pc, and the state of Pakistan, with 5pc. Once the testing of Manzalai-2 is completed, MOL, in agreement with its partners in the joint venture exploring the region, will make announcements to the media and other stakeholders, the statement said. A spokesman for Karachi Oil and Gas Development was earlier reported to be planning for Friday an announcement of the size of the deposits at the site. [ Back To TMCnet.com's Homepage ]