Mari Energies announces first gas discovery at Soho-1 well in Sindh
Mari Energies Limited, formerly Mari Petroleum Company Limited (MARI), has discovered gas production from its Soho-1 exploratory well in the Sujawal Block located in Sindh.
The E&P, which is the operator of Sujawal Block with 100% working interest, disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.
'Mari Energies Limited is pleased to announce a gas discovery at Soho-1 exploratory well drilled in the Sujawal Block, located in Sujawal district, Sindh,' read the notice.
The company shared that it tested gas production at two different choke sizes.
At 64/64' choke, the well produced 30.01 million standard cubic feet per day (MMSCFD) of gas at a pressure of 1,482.5 psi. Meanwhile, at 32/64' choke, it flowed 18.84 MMSCFD at a much higher pressure of 3,447.8 psi.
Mari Energies begins hydrocarbon production from KP's Shewa discovery
The company shared that further testing of the additional targeted formations is underway to fully evaluate the well's potential.
'It is pertinent to mention that this is the first gas discovery in the Lower Goru (Massive Sand) in the Sujawal Block and has opened a new avenue for exploration in the Massive Sands after several failures in the region,' it added.
In March, Mari Energies Limited commenced hydrocarbon production from Shewa discovery in Waziristan Block located in Khyber Pakhtunkhwa.
As per the company's latest financial results, MARI posted a profit-after-tax (PAT) of Rs11.17 billion in the second quarter of fiscal year 2025 (2QFY25), a decline of over 39% year-on-year (YoY) compared to PAT of Rs18.36 billion in the same period of the previous year.
The decline in profit was attributed to lower revenue and higher expenses incurred during the period.
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