Mari Petroleum Company Limited (PSX: MARI) has achieved a major milestone with the successful gas discovery at the Shewa-2 appraisal-cum-exploratory well, situated in the North Waziristan district of Khyber Pakhtunkhwa.
The company, in an official notification to the Pakistan Stock Exchange (PSX), revealed that the well was drilled down to a depth of 4,577 meters on November 01, 2023. The primary objectives were to appraise the Lockhart and Hangu formations, previously discovered at exploratory well Shewa-1, and to assess the hydrocarbon potential of the exploratory targets, namely the Samanasuk and Kawagarh formations.
During the Drill Stem Test conducted in the Kawagarh formation, an exploratory target, the well exhibited a sustainable gas flow rate of 0.607 million standard cubic feet per day (MMSCFD) at a wellhead flowing pressure (WHFP) of 97 pounds per square inch (Psi) with a 32/64-inch choke size.
This discovery in the Kawagarh formation adds to the already identified hydrocarbon-bearing reservoirs, Lockhart and Hangu, in the exploratory well Shewa-1. The appraisal of the Lockhart and Hangu formations has further confirmed the extension of the hydrocarbon play in these formations.
Specifically, the Hungu formation was tested at a gas flow rate of 0.274 MMSCFD at a WHFP of 77 Psi with a 32/64-inch choke size. Furthermore, the Lockhart formation in Shewa-2 well, tested post-acid, exhibited a gas flow rate of 51 MMSCFD and 391 barrels of condensate per day at a WHFP of 5,972 Psi with a 38/64-inch choke size.
Mari Petroleum Company Limited operates the Waziristan Block with a 55 percent working interest, while Oil and Gas Development Company Limited (OGDCL) and Oil and Gas Exploration Company Limited (OPI) are joint venture partners with working interests of 35 percent and 10 percent, respectively.
This significant gas discovery reinforces Mari Petroleum’s commitment to exploration and production activities in the region and contributes to Pakistan’s energy security. The company looks forward to leveraging this success for the benefit of both shareholders and the nation.
