April 13, 2023 (MLN): Mari Petroleum Company Limited (PSX: MARI) and Orient Petroleum Inc (OPI) have signed a gas processing contract for the provision of Early Production Facilities (EPF) for the Shewa-I Discovery in Waziristan Block, the company's filing on PSX unveiled today.
This follows the gas and condensate discovery at the Shewa-I (formerly Bannu West-l) Exploration Well, drilled in the KP Province.
Under the terms of the agreement, OPI will provide the EPF on a turnkey basis and also offer Operations and Maintenance (O&M) services for a period of twenty-four months from the start of production.
Additionally, the gas processing contract allows MARI to purchase EPF equipment.
As the operator of the Waziristan Block, MARI holds a 55% working interest, while OGDCL and OPI are joint venture partners with working interests of 35% and 10%, respectively.
The contract will help facilitate the processing of these resources, ensuring their efficient and effective utilization.
