Mari Energies Limited (PSX: MARI) has announced a significant gas and condensate discovery at the Spinwam-1 exploration well in the Waziristan Block, located in the North Waziristan District of Khyber Pakhtunkhwa. The company shared the development in a filing to the Pakistan Stock Exchange (PSX) on Tuesday.
Mari Energies operates the Waziristan Block with a 55% working interest, while its joint venture partners, Oil and Gas Development Company Limited (OGDCL) and Orient Petroleum Inc., hold 35% and 10% working interests, respectively.
Spinwam-1, the second exploratory well in the Waziristan Block, was spud-in on May 28, 2024, and drilled to a total depth of 4,400 meters. Initial pre-acid testing of the Samanasuk Formation has yielded promising results, with a flow rate of 12.96 million standard cubic feet per day (MMSCFD) of gas and approximately 20 barrels per day (bbl/day) of condensate. The testing was conducted at a 32/64″ choke with a Wellhead Flowing Pressure of 2,127 psig.
Well testing is ongoing, including post-acid job evaluations and assessments of additional formations, to fully determine the well’s potential. The company stated that this discovery has opened a new play within the Waziristan Block, signaling further exploration opportunities.
