New gas reserves discovered in Pakistan

New gas reserves discovered in Pakistan

ISLAMABAD – On June 01, 2022, Mari Petroleum Company Limited (MPCL), an associated company of Fauji Foundation, announced a gas discovery resulting from its exploratory efforts in Bannu West Block, located in North Waziristan district, KP province. The discovery is of significant importance for Pakistan and is a step towards building the energy security of the country.

The well was initially tested at a rate of around 25 MMSCFD and 300 BPD of condensate at 32/64” choke. A post acid clean-up well test has now been conducted to better understand well’s behavior and expected improvements in its performance. The new test rates are in the order of 50 MMSCFD of gas and 300 barrels per day of condensate. These results have further established the confidence in the discovery and additional potential in this area. MPCL together with its joint venture partners Oil & Gas Development Company Limited (OGDCL) and Zaver Petroleum Corporation (Pvt) Limited (ZPCL), is now developing the appraisal program and plan to bring this discovery on early production. The company is also working closely with Sui Northern Gas Pipelines Limited (SNGPL) who shall lay a transmission pipeline providing connectivity of the well with the national grid.

Faheem Haider, Managing Director & CEO has said, “We are committed to implement a fast track appraisal and development program to fully exploit the hydrocarbon resources in the Block.” He thanked the Minister of State for Energy, Secretary Petroleum, Director General Petroleum Concession, provincial government, law enforcement agencies and local community for extending their cooperation during the operational activities. He highlighted that during the last 5 years the company has contributed over Rs 80 million for the welfare schemes in the concession area. In addition, the company is also implementing various projects worth Rs 86 million in education, health and water supply schemes.

The company has also created numerous employment opportunities for the local population during the project execution period and will continue to do so going forwards. The company remains fully committed and is engaged with all stakeholders to improve the socio economic environment of the area through its social welfare programs.

Waqar Ahmed Malik, on behalf of Board of Directors of MPCL, thanked the management for accomplishing this splendid task for augmenting the depleting gas resources. He in particular thanked the Prime Minister on constituting a steering committee to oversee and implement fast track development of the project.