https://arab.news/4at7u
- Pakistan heavily relies on oil and gas imports and has faced gas outages in recent years due to a decline in domestic reserves
- Mari Energies, which made the discovery, says testing shows a flow of 12.96 MMSCFD of gas, 20 barrels per day of condensate
ISLAMABAD: Mari Energies, a Pakistani hydrocarbon exploration firm, has discovered new oil and gas reserves in the country’s northwestern Khyber Pakhtunkhwa (KP) province, it said on Tuesday, with initial tests suggesting a flow of 12.96 million standard cubic feet per day (MMSCFD) of gas and around 20 barrel per day (bbl/d) of condensate.
The discovery has been made in KP’s Waziristan district at the Spinwam-1 exploratory well, which was drilled on May 28 last year, according to the exploration firm.
Mari Energies holds a 55% stake in the Waziristan block together with the state-owned Oil and Gas Development Company Limited (OGDCL) and Orient Petroleum Inc. (OPI).
“Initial pre-acid testing of the Samanasuk Formation has shown a flow of 12.96 MMSCFD of gas and approx. 20 bbl/day of condensate at 32/64” choke, and a Wellhead Flowing Pressure of 2,127 psig (pounds per square inch gauge),”
Mari Energies said in a letter to the Pakistan Stock Exchange (PSX).
“Further testing is underway, including post-acid job and assessments in the existing formation and additional targeted formations, to fully evaluate the well potential.”
The Spinwam-1 well in the Waziristan block has total depth of 4,400 meters, according to the exploration firm.
“This discovery has opened a new play within the block,” Mari Energies said.
The development comes a week after Petroleum Minister Musadik Malik said Pakistan was offering foreign investors 40 offshore and 31 onshore blocks for oil and gas exploration.
The South Asian country, which imports most of its energy needs and is currently looking for ways to lessen the costs, is currently pursuing a multi-pronged strategy to advance the energy sector, focusing on indigenization, electrification and liberalization.
Malik, who invited international investors to capitalize on opportunities in these newly opened blocks, said a significant portion of Pakistan’s natural resources was unexplored, the state-run APP news agency reported.
“Pakistan is open for business and we will provide all necessary facilitation to investors,” the petroleum minister was quoted as saying.