On June 01, 2022; Mari Petroleum Company Limited (MPCL) an associated company of Fauji Foundation announced a gas/condensate discovery resulting from its exploratory efforts at Bannu West-1 well, located in North Waziristan district, KP Province. The discovery is one of the largest gas/condensate discoveries in recent past in the country and first ever in North Waziristan. It is of significant importance for Pakistan which will go a long way in meeting the country’s energy demands from indigenous resources resulting in saving of valuable foreign exchange.

The well was drilled down to 4915m and tested gas at a rate of around 50 MMSCFD and 300 Barrels per Day of condensate with well head flowing pressure (WHFP) of 5513 Psi at 40/64 inch choke size after acid job in Lockhart Formation. Another Drill Stem Test in Hangu Formation also tested gas at a rate of 1.6 MMSCFD with WHFP of 297 Psi at 32/64 inch choke size.

MPCL together with its joint venture partners Oil & Gas Development Company Limited (OGDCL) and Zaver Petroleum Corporation (Pvt) Limited (ZPCL), is now undertaking a fast track appraisal and development program to bring the discovery on early production in order to fully exploit the hydrocarbon resources. MPCL is also working closely with Sui Northern Gas Pipelines Limited (SNGPL) who is laying gas transmission pipeline for providing connectivity with the national grid. The Company is also carrying out exploration activities aggressively to explore and evaluate the additional hydrocarbon potential in the area.

MPCL has won the Corporate Excellence Award in the oil and gas sector for the fifth consecutive year. The award was received during the Management Association of Pakistan (MAP) event, at the 36th Corporate Excellence Awards Ceremony, in Karachi. MAP established the Corporate Excellence Award in 1982 to recognize and honor firms that have demonstrated remarkable performance by undertaking advanced and outstanding management practices. MPCL qualified first for the award in 2016-17 (based on dividend pay-out) and since then has been a winner in the Oil & Gas Sector every year.