Islamabad October 5 2022: Pakistan largest gas field operator, Mari Petroleum Company Limited (MPCL) has successfully drilled and tested its first-ever horizontal development well in HRL Reservoir of Mari Gas Field in Daharki, Sindh Province.
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. The Company is working to put this well on early production and also evaluating the possibility of drilling additional horizontal wells.
MPCL is the Operator of Mari Gas Field with 100% working interest.
MPCL currently holds seven D&P Leases and sixteen exploration licenses (including two provisionally awarded licenses) as an Operator. It is also a non-operating joint venture partner in six D&P Leases and thirteen exploration licenses (including three provisionally awarded licenses while Assignment Agreement of another license is in progress). Its exploration and production assets are spread across all four provinces of Pakistan as well as in Abu Dhabi where it is a joint venture partner with leading Pakistani National E&P Companies in an offshore block.
MPCL is a public limited company operating in the private sector. The Management of the Company is vested in Fauji Foundation. The Company is listed on Pakistan Stock Exchange with market capitalization of over Rs. 232 billion as on June 30, 2022. Major Shareholders of the Company include Fauji Foundation (40%), Government of Pakistan (18.39%), OGDCL (20%) and General Public (21.61%). All Fauji Foundation group companies are the associated companies of MPCL.
The gas produced by MPCL is supplied to fertilizer manufacturers, power generation and gas distribution companies, while crude oil and condensate are supplied to the refineries for further processing. The Company caters to local customers (including EPZ within Pakistan) with currently no activity in the export market.
