In a significant development, New oil and gas well successful drilling reported

In a significant development, New oil and gas well successful drilling reported

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest energy andexploration companies, recently achieved a significant milestone bysuccessfully drilling and testing the appraisal well Mari Ghazij-2, whichis situated in the Mari Development & Production License (D&PL) area inSindh. This noteworthy achievement was disclosed by the company in a noticesubmitted to the Pakistan Stock Exchange (PSX) on a Monday.

Notably, this accomplishment follows a previous discovery made by theExploration and Production (E&P) company in January when gas was found atthe exploratory well Mari Ghazij-1, also located in the Mari D&PL area. Asa crucial component of the appraisal plan for this discovery, MariPetroleum Company Limited undertook the drilling and testing of MariGhazij-2.

Appraisal wells play a vital role in evaluating the attributes of confirmedpetroleum reserves, including factors like flow rate. In this case, MARIserves as the operator of the Mari D&PL with a 100% working interest in theproject.

The process commenced with the drilling of Mari Ghazij-2 on September 11,2023, ultimately reaching a depth of 1,016 meters. The results wereimpressive, as the post-acid gas flow rate achieved a rate of 11.1 millionstandard cubic feet per day, accompanied by a wellhead flowing pressure of519 pounds per square inch at a choke size of 64/64 inches.

This successful drilling of Ghazij-2 represents the first step in a seriesof planned appraisal wells aimed at thoroughly assessing the Ghazij-1discovery and determining its full extent. Following the completion ofnecessary regulatory formalities, the well is scheduled to undergo extendedwell testing to supply gas to the government-designated buyer, marking asignificant development for MARI’s operations.