January 09, 2023 (MLN): Mari Petroleum Company Limited (MPCL) has discovered gas reserves at its exploratory well Mari Ghazij-1 located in D&PL Sindh Province, a notice issued by company to PSX on Monday showed.

To note, MPCL is the Operator of Mari D&PL with 100% working interest.

“The well was spud-in on November 24,2022 and successfully drilled down to the depth of 1,015 meters”, the notification read.

Further, the gas flow rate established through Drill Stem Test (DST) is 5.1 million Standard Cubic Feet Per Day (MMSCFD) with Wellhead Flowing Pressure (WHFP) of232 Pounds Per Square Inch (Psi) at 64/64-inch choke size.

The company has planned to appraise the discovery to prove its extent and, in parallel, evaluate its development options.

At the time of writing, the scrip of the company is being traded at Rs1,529, up by 67 paisa or 0.04% DoD.

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Posted on: 2023-01-09T09:37:21+05:00