Islamabad, Apr 3, 2025: Mari Energies Limited (PSX: MARI) has successfully uncovered its third reservoir of gas and condensate at the Spinwam-1 well, situated in the Waziristan Block of Khyber Pakhtunkhwa.
This latest breakthrough originates from the Hangu Formation, following an earlier successful extraction from the Kawagarh Formation.
As per the company’s official disclosure to the Pakistan Stock Exchange (PSX), the well has yielded an impressive flow rate of 23.85 million standard cubic feet per day (MMSCFD) of natural gas, alongside approximately 122 barrels per day (bbl/day) of condensate.
The extraction process was recorded at a 32/64-inch choke, with a Well Head Flowing Pressure (WHFP) measured at 4,042 pounds per square inch gauge (psig).
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Mari Energies Limited holds a dominant 55 percent operational stake in the Waziristan Block, while Oil and Gas Development Company Limited (OGDCL) retains a 35 percent share.
Additionally, Orient Petroleum Inc. contributes with a 10 percent partnership.
The company has further emphasized that extensive testing on other prospective formations is currently in progress to evaluate the complete production potential of the well.
This ongoing assessment aims to maximize resource extraction and optimize operational efficiency.
