Mari Petroleum Company Limited (PSX: MARI) has successfully drilled and tested a fourth appraisal well in the Ghazij formation (known as Ghazij Discovery) within the Mari Development and Production License (D&PL). The company made this announcement to the main stock exchange on Monday.
MPCL operates the Mari D&PL with a 100 percent working interest. This well is part of the appraisal program for the Ghazij discovery, which Mari previously disclosed on January 25, 2023.
Drilling commenced on April 21, 2024, and reached a depth of 1,006 meters. Following acid treatment, the well achieved a post-treatment gas flow rate of 5.0 million standard cubic feet per day (MMSCFD) with a wellhead flowing pressure (WHFP) of 363 pounds per square inch (psi) using a 128/64-inch choke size.
Mari Petroleum stated that the well will be brought into production once all necessary regulatory procedures are completed.
As of the latest update, Mari’s stock on the exchange was trading at Rs. 2,701.01, showing an increase of 0.38 percent or Rs. 10.16, with a trading volume of 4,337 shares on Tuesday.
