Karachi, July 2, 2024 – Mari Petroleum Company Limited has announced the successful drilling of an appraisal well in the Ghazij Formation, Sindh. This achievement marks a significant milestone in the company’s exploration efforts.
In a communication shared with the Pakistan Stock Exchange (PSX), Mari Petroleum detailed the successful drilling of the fourth appraisal well in the Ghazij Formation, part of the Mari Development and Production Lease (D&PL) in Sindh. This well is a crucial component of the appraisal program for the Ghazij discovery, initially disclosed on January 25, 2023, via letter No. MPCLlCS/CA-02/3386.
The well, spudded on April 21, 2024, was drilled to a depth of 1,006 meters. During testing, the post-acid gas flow rate from the well reached an impressive 5.0 million standard cubic feet per day (MMSCFD) with a wellhead flowing pressure (WHFP) of 363 pounds per square inch (psi) at a choke size of 128/64-inch. This high flow rate underscores the well’s potential to contribute significantly to the company’s production capacity.
Mari Petroleum’s latest success in the Ghazij Formation is part of a broader strategy to enhance its production capabilities through strategic exploration and development. The company has been actively pursuing opportunities to expand its resource base and optimize its production processes.
The company confirmed that the well would be put into production in due course, following the completion of necessary regulatory formalities. This step is crucial to ensuring that all operations comply with local regulations and industry standards, guaranteeing the safety and efficiency of the production process.
Mari Petroleum serves as the operator of the Mari D&PL with a 100% working interest. This exclusive operational control allows the company to effectively manage and streamline its exploration and production activities, ensuring maximum efficiency and output.
The successful drilling in the Ghazij Formation is expected to bolster Mari Petroleum’s position as a leading player in Pakistan’s energy sector. The company’s ongoing efforts to explore and develop new resources demonstrate its commitment to meeting the growing energy demands of the country.
The announcement of this successful drilling operation has been met with optimism by industry experts and stakeholders, who view it as a positive development for both the company and the broader energy market in Pakistan. As Mari Petroleum continues to pursue its strategic objectives, the successful appraisal well in the Ghazij Formation represents a promising step forward in its mission to enhance energy production and contribute to the country’s economic growth.
Mari Petroleum’s successful drilling in Sindh’s Ghazij Formation underscores its commitment to advancing its exploration and production capabilities. With the well set to begin production soon, the company is poised to strengthen its role in Pakistan’s energy sector, delivering reliable and efficient energy solutions to meet the nation’s needs.