Pakistan strikes new Oil & Gas reserves in North Waziristan

NORTH WAZIRISTAN: Pakistan has achieved an important accomplishment through the discovery of new oil and gas deposits in the Spinwam area of North Waziristan.

According to information from Mari Energies, which operates the Waziristan Block, the Spinwam-1 well has established significant reserves for the country’s hydrocarbon resources.

The discovery, which adds to the reserves outlined above, reported 70 million standard cubic feet per day (MMSCFD) of gas and 310 barrels per day (bbl/d) of crude oil.

The previous find in the Spinwam–1 well including Kawag formation – 20.48 MMSCFD of gas and 117 bbl/d of crude oil Samansk formation – 12.96 MMSCFD of gas and 20 bbl/d of crude oilHangu formation – 23.85 MMSCFD of gas and 122 bbl/d of crude oilMari Energies have a 55% share of the Waziristan Block, with Oil & Gas Development Company Limited (OGDCL) and Orient Petroleum holding 35% and 10%, respectively.

The discovery is expected to enhance energy security in Pakistan’s market, as it creates a situation to reduce reliance on expensive fuel imports and the depletion of foreign exchange reserves.

Notably, as reported, Pakistan’s reserves of oil and gas have increased, with oil reserves increasing by 26% and gas reserves increasing by 2% to June 202,4, meaning reserves last for 10 years and 17 years, respectively.