In a major breakthrough, Mari Energies on Tuesday announced the discovery of new oil and gas reserves in North Waziristan, reported 24News HD News Channel on Tuesday.
According to Mari Energies, the operator of the Waziristan Block, the Spinwam-1 well has yielded substantial oil and gas reserves, boosting the country’s hydrocarbon resources.
The latest discovery has revealed an estimated 70 million standard cubic feet per day (MMSCFD) of gas and 310 barrels per day (bbl/d) of crude oil. This find is in addition to the existing reserves discovered from three other formations in the same well.
The previous discoveries include the Kawag Formation, which yielded 20.48 MMSCFD of gas and 117 bbl/d of crude oil; the Samansk Formation, which produced 12.96 MMSCFD of gas and 20 bbl/d of crude oil; and the Hangu Formation, which revealed 23.85 MMSCFD of gas and 122 bbl/d of crude oil.
The Waziristan Block is operated by Mari Energies, which holds a 55% stake, while Oil & Gas Development Company Limited (OGDCL) and Orient Petroleum have 35% and 10% shares, respectively.
It is pertinent to mention here that Mari Petroleum Company Limited (MPCL) announced the discovery of new oil and gas reserves from the Spinwam-1 Well in North Waziristan’s Karghar Formation.
A spokesman of the company said that the well is producing 20.48 MMCFD of gas and 117 barrels of oil per day. This marks the second successful discovery from the Spinwam-1 well.
Reporter: Awais Kiyani