December 11, 2023 (MLN): Mari Petroleum Company Limited (PSX: MARI) has successfully drilled and tested a third horizontal development well Mari-124H in the Habib Rahi Limestone (HRL) Reservoir of Mari Gas Field in Daharki, Sindh Province, the company’s filing on local bourse revealed today.
The well is part of the Mari Field Revitalization Project aimed at better managing the delivery pressure, sustaining the gas production, and optimal reserves recovery, all leading to the arrest of the depletion in production.
The well was drilled to a total measured depth of 1,740 meters with a horizontal section length of around 750 meters.
After completion, the well was tested at a rate of around 17 million standard cubic feet per day (MMSCFD) of gas at a flowing wellhead pressure of 470 pounds per square inch gauge (psig).
The well will be put on regular production immediately after releasing the drilling Rig.
“The company is evaluating opportunities to drill additional horizontal wells in due course,” the notice reads further.
Moreover, MARI is the Operator of Mari Gas Field with 100% working interest.
It is important to mention that Pakistan has witnessed the drilling of over 1,400 exploration wells. Despite having a land area slightly exceeding 800,000 square kilometers, more than 75% remains unexplored.
However, in a positive development contingent upon the resolution of the "Tight Gas Policy”, China is ready to invest a substantial $2 billion in Pakistan's Exploration and Production (E&P) sector, as revealed by Muhammad Ali, the Caretaker Minister of Energy.
Moreover, there exists a formidable potential among top-tier E&P companies like MARI, Oil and Gas Development Corporation Limited (PSX: OGDC), and Pakistan Petroleum Limited (PSX: PPL) to potentially unlock one billion cubic feet of gas, he informed.
