Islamabad April 17 2024: Mari Petroleum Company Limited (MPCL) has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL.
This well is a part of the appraisal program for the Ghazij discovery which was disclosed vide letter no. MPCLlCS/CA-02/3386, dated 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 on production in due course after completion of requisite regulatory formalities. The company is also preparing a field development plan for submission to relevant regulatory authority for approval.
MPCL is the Operator of Mari D&PL with 100% working interest.
“We estimate the additional gas flow to have an annualized earnings impact of PKR 16.98/share on MARI” states Arif Habib Limited in message to its clients.
