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CPI Preview: Inflation to fall below 14% YoY in May

MARI strikes black gold as third Ghazij appraisal well succeed 

Mari Petroleum Q1 2024 profit drops 14% YoY
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April 18, 2024 (MLN): Mari Petroleum Company Limited (PSX: MARI) has achieved a significant milestone in its exploration endeavours with the successful drilling and testing of the third appraisal well in the Ghazij formation, located within the Mari Development & Production Lease (D&PL), the company's filing on PSX revealed today. 

This well is a part of the appraisal program for the Ghazij discovery which was disclosed on January 25, 2023. The well was spudded in on February 15, 2024, and drilled down to a depth of 1,483 meters.

The post-acid gas flow rate from the well was 10.5 million standard cubic feet per day (MMSCFD) with a wellhead flowing pressure (WHFP) of 490 pounds per square inch (Psi) at 64/64-inch choke size.

The well shall be put into production in due course after the completion of requisite regulatory formalities. 

MARI is also preparing a field development plan for submission to the relevant regulatory authority for approval.

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

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Posted on: 2024-04-18T09:20:57+05:00