Mari Energies Limited has announced the discovery of new oil and gas reserves at the Spinwam-1 well in Waziristan, Khyber Pakhtunkhwa, in a letter to the Pakistan Stock Exchange (PSX) on Thursday.
The company, formerly known as Mari Petroleum Company Limited (MARI), referred to its earlier communication on March 17, 2025, detailing the discovery of gas and condensate from the Kawagarh Formation at the Spinwam-1 exploration well in the Waziristan Block.
The well has shown promising results, producing 23.85 MMSCFD of gas and approximately 122 barrels per day of condensate at a 32/64“ choke, with a Well Head Flowing Pressure (WHFP) of 4,042 psig. The company stated that further testing of additional formations is ongoing to fully assess the well’s potential.
Mari Energies, which operates the Waziristan Block, holds a 55% working interest, while joint venture partners Oil and Gas Development Company Limited (OGDCL) and Orient Petroleum Inc. hold 35% and 10% working interests, respectively.
