KARACHI: Mari Petroleum Company Limited (MARI) announced on Monday its first-ever oil discovery in the Mari Development and Production Lease (D&PL) in Sindh.
The well, named Shawal-l, was drilled to a total depth of 1,136 meters into the Ghazij Formation. During testing, it produced 1,040 barrels of crude oil with a 30-degree API gravity, along with 2.5 million standard cubic feet per day (MMSCFD) of associated gas at a wellhead flowing pressure of 953 pounds per square inch (Psi).
“This is the first ever oil discovery in Mari D&PL, which has been in gas production since 1967,” the company said in a notice to the Pakistan Stock Exchange (PSX). “We are pleased to inform that Mari Petroleum Company Limited (MARI) has made an oil discovery resulting from its exploratory efforts at Shawal-l well, drilled in Mari D&PL, located in Sindh.”
Last week, MARI also successfully drilled and tested another appraisal well in the Mari Ghazij formation located in Mari D&PL. The company operates the country's largest gas reservoir at Mari Gas Field, Daharki, Sindh, making it the second-largest producer of natural gas in Pakistan.
MARI is an integrated oil and gas exploration and production company with an impressive exploration success rate of around 70 percent, significantly higher than the industry averages of around 33 percent nationally and 14 percxent internationally.
