Mari Energies, a Pakistani hydrocarbon exploration company, announced on Tuesday the discovery of new oil and gas reserves in Khyber Pakhtunkhwa’s (KP) Waziristan district. Preliminary testing at the Spinwam-1 exploratory well indicated a gas flow rate of 12.96 million standard cubic feet per day (MMSCFD) and around 20 barrels per day (bbl/d) of condensate.
The Spinwam-1 well was drilled on May 28 last year, and Mari Energies holds a 55% stake in the Waziristan block, in partnership with state-owned Oil and Gas Development Company Limited (OGDCL) and Orient Petroleum Inc. (OPI). According to a letter sent by Mari Energies to the Pakistan Stock Exchange (PSX), initial tests of the Samanasuk Formation recorded a Wellhead Flowing Pressure of 2,127 psig (pounds per square inch gauge) at a 32/64” choke.
The company stated that additional testing is in progress, including post-acid treatment and assessments of other targeted formations, to determine the full potential of the well. The Spinwam-1 well reaches a total depth of 4,400 meters, and this discovery has introduced a new exploration opportunity within the Waziristan block.
This breakthrough comes shortly after Petroleum Minister Musadik Malik announced that Pakistan is offering foreign investors access to 40 offshore and 31 onshore blocks for oil and gas exploration. The country, which relies heavily on energy imports, is adopting a diversified approach to improve its energy sector, emphasizing domestic resource development, electrification, and market liberalization.
Minister Malik encouraged international investors to explore opportunities in Pakistan’s energy sector, highlighting that a substantial portion of the country’s natural resources remains untapped. He assured potential investors that Pakistan is committed to providing the necessary support and facilitation for their ventures.
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