Islamabad July 23 2024: Mari Petroleum, the largest gas exploration and development company of Pakistan, added another field of 30 MMSCFD to the system, according to company filing to the exchange.
Share price of the company surge PKR 65.84 or 2.49 percent after the announcement at Pakistan Stock Exchange.
MARI Petroleum (MPCL) has successfully concluded the appraisal program of Ghazij gas discovery during which four appraisal wells were drilled and tested to evaluate and determine the extent of the discovery. All the five wells (one exploratory and four appraisal wells) have been put on Extended Well Testing program and are producing around 30 MMSCFD gas, which is being supplied to SNGPL.
Currently, work on the Field Development Plan is in progress, which will be submitted to the regulator for approval in due course.
MPCL is the Operator of Mari D&PL with 100% working interest.
Mari Petroleum Company Limited is a public limited company incorporated in Pakistan on December 4, 1984 under the repealed Companies Ordinance, 1984 (replaced by the Companies Act, 2017). The Company is principally engaged in exploration, production and sale of hydrocarbons.
