Mari Petroleum Company Limited (MARI), one of Pakistan’s largest energy and exploration companies, has discovered oil Shawal-l well located in Mari Development and Production Lease (D&PL), Sindh.

“This is the first ever oil discovery in Mari D&PL, which has been in gas production since 1967,” MARI, which is an operator of Mari D&PL with 100% working interest, shared the development in a notice to the Pakistan Stock Exchange (PSX) on Monday.

“We are pleased to inform that Mari Petroleum Company Limited (MARI) has made an oil discovery resulting from its exploratory efforts at Shawal-l well, drilled in Mari D&PL, located in Sindh,” read the notice.

The company shared that Shawal-l well was spud in on January 27, 2024, and successfully drilled down to a total depth of 1,136 meters into the Ghazij Formation.

“During testing, the well produced 1,040 barrels of crude oil of ~30 degree API oil with 12% Basic Sediment & Water (BS&W) along with 2.5 million standard cubic feet per day (MMSCFD) of associated gas at wellhead flowing pressure (WHFP)of 953 pounds per square inch (Psi) at 32/64 inch choke size.

Last week, MARI successfully drilled and tested another appraisal well in the Mari Ghazij formation located in Mari D&PL.

By operating the country’s largest gas reservoir at Mari Gas Field, Daharki, Sindh, MARI is the second largest producer of natural gas in Pakistan.

The company is an integrated oil and gas exploration and production company and around 70% exploration success rate, which is much higher than industry averages of around 33% national and 14% international.

MARI’s key customers include fertilizer manufacturers, power generation companies, gas distribution companies; and refineries.