Karachi, February 16, 2024 – In a groundbreaking development, Mari Petroleum Limited has officially announced the discovery of substantial gas reserves in the Maiwand Well within Block-28, located in Balochistan.
The company shared this momentous news in a communication to the Pakistan Stock Exchange (PSX), marking a significant milestone in Pakistan’s energy sector.
The gas discovery was made at the Maiwand X-1 ST-1 exploration well, a testament to Mari Petroleum’s commitment to exploration and development. The well, spudded-in on June 12, 2023, reached a depth of 2,516 meters on November 12, 2023, after a successful drilling operation.
Mari Petroleum Limited, serving as the operator of Block-28, holds an impressive 95 percent working interest in the project, with Oil and Gas Development Company Limited (OGDCL) serving as the joint venture partner, possessing a 5 percent carried working interest.
This significant find adds a promising dimension to Pakistan’s energy landscape, particularly in the resource-rich province of Balochistan. The discovery of gas reserves in Block-28 not only contributes to the country’s energy security but also holds economic implications, potentially reducing Pakistan’s dependence on external sources.
The successful exploration in Maiwand Well reaffirms Mari Petroleum’s reputation as a key player in the country’s energy sector. The company’s strategic approach to exploration and development has consistently yielded positive results, underscoring its commitment to contributing to Pakistan’s energy self-sufficiency.
The gas reserves discovered in Block-28 are expected to play a crucial role in meeting the growing energy demands of the nation. As Pakistan continues to focus on diversifying its energy mix and reducing reliance on traditional sources, such discoveries contribute significantly to achieving a more sustainable and secure energy future.
The timing of this discovery is noteworthy, considering the global energy landscape’s rapid evolution towards cleaner and more sustainable alternatives. The newfound gas reserves provide an opportunity for Pakistan to leverage cleaner-burning natural gas as a key component in its energy transition strategy.
Mari Petroleum’s successful exploration endeavors are not only beneficial for the company but also hold positive implications for the broader economy. The development of local energy resources fosters economic growth, job creation, and increased investment in the energy sector.
As Mari Petroleum moves forward with the next steps in the development of the Maiwand Well and Block-28, stakeholders, including government bodies, industry experts, and investors, will be closely monitoring the progress. The discovery’s impact on Pakistan’s energy security and the broader economic landscape is poised to be significant, providing a boost to the nation’s quest for self-reliance in the energy sector.
Mari Petroleum’s discovery of gas reserves in Block-28 marks a noteworthy achievement in Pakistan’s energy exploration efforts. This accomplishment not only adds to the country’s energy reserves but also positions Mari Petroleum as a pivotal player in advancing the nation’s energy goals and contributing to its economic growth.
