Mari Petroleum Company Limited (MARI), one of the country’s leading natural gas producers, has successfully drilled and tested a horizontal well in Sindh’s District Daharki.
MARI, the operator of the Mari Gas Field with a 100% working interest, informed the Pakistan Stock Exchange (PSX) of the development on Monday.
“MARI proudly announces the successful drilling and testing of the third horizontal development well, Mari-124H, in the Habib Rahi Limestone (HRL) Reservoir of the Mari Gas Field located in Daharki, Sindh Province,” stated the company in a recent announcement.
This achievement is part of the Mari Field Revitalization Project, strategically designed to enhance the management of delivery pressure, sustain gas production, and optimize reserves recovery, ultimately addressing the depletion in production.
The well, reaching a total measured depth of 1,740 meters with a horizontal section spanning approximately 750 meters, underwent testing at a rate of approximately 17 million standard cubic feet per day (mmscfd) of gas. The flowing wellhead pressure measured at 470 pounds per square inch gauge (psig).
Following completion, the well will be promptly integrated into regular production operations once the drilling rig is released. MARI is actively exploring opportunities for additional horizontal wells in the near future, demonstrating its commitment to ongoing development.
As the operator of the country’s largest gas reservoir, the Mari Gas Field in Daharki, Sindh, MARI stands as the second-largest natural gas producer in the region. In a recent milestone, the company initiated gas production from its appraisal well in Sindh.
MARI, an integrated oil and gas exploration and production company, boasts an impressive exploration success rate of around 70%, surpassing industry averages both nationally and internationally. The company caters to a diverse clientele, including fertilizer manufacturers, power generation companies, gas distribution firms, and refineries.
In the latest financial results, MARI reported remarkable year-on-year growth, with net sales and net profit experiencing a substantial increase of 53% and 70%, respectively. The figures reached historically high levels, standing at Rs145.7 billion and Rs56.1 billion during the fiscal year 2022-23. This underscores MARI’s robust financial performance and its significant role in the energy sector.”
