Mari Petroleum Company Limited (PSX: MARI) has made an oil discovery resulting from its exploratory efforts at Shawal-l well, drilled in Mari D&PL, located in Sindh, the exploration firm informed the main bourse on Monday.
According to the filing, Shawal-l well was spud-in on January 27, 2024, and successfully drilled down to a total depth of 1,136 meters into the Ghazij Formation.
During testing, the well produced 1,040 barrels of crude oil of ~30 degrees API oil with 12 percent Basic Sediment & Water (BS&W) along with 2.5 million standard cubic feet per day (MMSCFD) of associated gas at wellhead flowing pressure (WHFP) of 953 pounds per square inch (Psi) at 32/64 inch choke size.
This is the first-ever oil discovery in Mari D&PL, which has been in gas production since 1967.
MPCL is the Operator of Mari D&PL with 100% working interest.
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TU ab prices KAAM hon ki Kya.
Not until price of oil falls in international market.