Mari Energies Strikes Third Oil Discovery

On Thursday, Mari Energies Limited disclosed the finding of hydrocarbon resources at the Spinwam-1 well situated in Khyber Pakhtunkhwa, Pakistan.

"As stated in our correspondence numbered CA-25-4427, issued on March 17, 2025, detailing the identification of gas and condensates at the Spinwam-1 exploratory well within the Waziristan Block, sourced from the Kawagarh Formation," noted the firm previously identified as Mari Petroleum Company Limited (MARI) in their communication with the Pakistan Stock Exchange (PSX).

The well has produced 23.85 million standard cubic feet per day (MMSCFD) of natural gas along with roughly 122 barrels per day (bbl/day) of condensate using a 32/64-inch choke setting. The Well Head Flowing Pressure (WHFP) was recorded at 4,042 pounds per square inch gauge (psig), as the firm additionally noted.

The company also mentioned that ongoing tests on specific target layers aim to thoroughly assess the well's full potential.

Mari Energies operates the Waziristan Block, owning a 55% working interest. The company collaborates with Oil and Gas Development Company Limited, which holds a 35% stake, and Orient Petroleum Inc., holding a 10% share. Recently, Mari Energies disclosed the discovery of additional hydrocarbons at the Spinwam-1 exploratory well located in Khyber Pakhtunkhwa last month.

"We are delighted to report that a second natural gas and condensate find was achieved in the Kawagarh Formation at the Spinwam-1 well," stated the notification sent to PSX earlier.