Mari Petroleum Company Limited (PSX: MARI) has announced a significant oil discovery resulting from its exploratory activities at the Shawal-l well, situated in the Mari Development & Production Lease (D&PL) located in Sindh. The company disclosed this information to the main bourse on Monday. According to the filing, drilling operations for the Shawal-l well commenced on January 27, 2024. Subsequently, the well was successfully drilled to a total depth of 1,136 meters into the Ghazij Formation.
Also Read: Global Crude Prices Rise as Oil Market Faces Supply Tightness
During testing, the Shawal-l well demonstrated promising results, yielding 1,040 barrels of crude oil with an approximate API gravity of 30 degrees, alongside 12 percent Basic Sediment & Water (BS&W). Additionally, the well produced 2.5 million standard cubic feet per day (MMSCFD) of associated gas at the wellhead flowing pressure (WHFP) of 953 pounds per square inch (Psi), with a choke size of 32/64 inches.
This marks a significant milestone as it represents the first-ever oil discovery in the Mari D&PL region, which has been primarily associated with gas production since 1967. Mari Petroleum Company Limited (MPCL) operates the Mari D&PL with a 100% working interest.
