MPCL successfully drills first-ever horizontal well in Daharki

October 5, 2022 (MLN): The Mari Petroleum Company Limited (MPCL) on Wednesday said that it has successfully drilled and tested its first-ever horizontal development well Mari 122-H in HRL Reservoir of Mari Gas Field in Daharki, Sindh Province, company filing on the PSX showed.

“The well was drilled to a total depth of 1,550 meters including a horizontal section of around 530 meters. After the acid stimulation job, the well was tested at a rate of around 21 MMSCFD of gas at a flowing wellhead pressure of 426 psig,” it said.

MPCL is working to put this well on early production and evaluating the possibility of drilling additional horizontal wells. MPCL is the Operator of Mari Gas Field with 100% working interest.

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SALIC interested to acquire 30% share in TOMCL

October 5, 2022 (MLN): The Saudi Agricultural and Livestock Investment Limited (SALIC) has shown interest in acquiring up to 30% shareholding of the Organic Meat Company Limited (TOMCL), the company’s filings on the stock exchange showed on Wednesday.

SALIC, a Saudi Joint Stock Company owned by the Public Investment Fund has appointed PriceWater House Coopers (PWC) to conduct due diligence of the company.

Further company added, “the proposed investment is currently in a discussion phase and no binding arrangement of any kind have been agreed with SALIC. The proposed investment will be subject to inter alia an agreement on the commercial terms and condition and obtaining all applicable internal and external approvals”.

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