New oil and gas reserves have been discovered in Waziristan, marking a breakthrough in domestic energy exploration efforts.
Mari Energies, which operates the block, confirmed that drilling at the Spinam-1 well, which began on May 28, 2024, has led to a significant find. The well is producing 12.96 million cubic feet of gas per day along with 20 barrels of crude oil.
Mari Energies holds a 55% share in the Waziristan block, while Oil and Gas Development Company Limited (OGDCL) and Oil and Gas Investment Limited (OPI) are joint venture partners in the project.
The company emphasized that this discovery would help increase Pakistan’s hydrocarbon reserves.
Additionally, it expressed gratitude for the cooperation of national security agencies and both federal and provincial governments in supporting the project’s progress.
In a similar development last year, Pakistan Petroleum Limited (PPL) announced the discovery of new oil and gas reserves in the Shah Bandar block, located in Sindh’s Sujawal district.
PPL shared the details in an official statement to the Pakistan Stock Exchange (PSX), revealing that the Jhamp East X-1 well in the Shah Bandar block is producing 10 million standard cubic feet of natural gas (MMSCFD) daily, and over 150 barrels of light oil.
The extracted gas from the well has a pressure of 2,800 pounds per square inch (PSI), is processed at the Sujawal gas processing plant, and fed into the Sui Southern Gas Company’s system, increasing the supply of natural gas in the region.
The Shah Bandar block has a group of stakeholders including PPL with a 63% share, Mari Petroleum with 32%, and Sindh Energy Holding and Government Holdings (Private) Limited, each with 2.5%.