Mari petroleum’s discover new oil & gas reserves in Waziristan

WAZIRISTAN: In a positive move for Pakistan’s pertoreulum industry, Mari Petroleum has announced the discovery of new oil and gas reserves in the Waziristan Block.

According to Mari Petroleum, the company is the lead operator in the Waziristan Block, holding a 55% stake. The discovery is expected to quantitatively enhance hydrocarbon resources.

The Spinam-1-1 well, which was drilled on May 28, 2024, is expected to produce 12.96 million cubic feet of gas per day and twenty barrels of condensate every day. The joint venture between Mari Petroleum, OGDCL, and OPI made all this possible.

Mari Petroleum has once again reaffirmed its commitment to further hydrocarbon exploration, with a large part of this success attributed to the significant backing of national, security institutions, as well as federal and provincial governments.

Earlier, Mari Petroleum Company Limited (PSX: MARI) made an oil discovery resulting from its exploratory efforts at Shawal-l well, drilled in Mari D&PL, located in Sindh, the exploration firm informed the main bourse on Monday.

According to the filing, the Shawal-l well was successfully drilled down to a total depth of 1,136 meters into the Ghazij  Formation on January 27, 2024

1,040 barrels of crude oil with an API of approximately 30 degrees and 12% Basic Sediment & Water (BS&W) were produced by the well during testing, along with 2.5 million standard cubic feet per day (MMSCFD) of associated gas at a wellhead flowing pressure (WHFP) of 953 pounds per square inch (Psi) at a 32/64 inch choke size.

Despite Mari D&PL producing gas since 1967, this is the company’s first oil discovery.

Mari D&PL is operated by MPCL, which owns a 100% operating stake.