Gas Discovery at Shahbaz-1 in Mari D&P Lease Area
MPCL has made a significant gas discovery at exploration well Shahbaz-1 in Mari D&P Lease Area. Shahbaz-1 was spud-in on July 22, 2016 and was drilled down to the depth of 1,180 meters into Sui Main Limestone Formation with MPCL’s own Rig Mari-1. The Drill Stem Tests carried out in SML and SUL Formations resulted in discovery of gas which flowed at a combined rate of 10.866 MMSCFD at Wellhead Flowing Pressure of 936 Psi @ 48/64 inch choke size. The gas flow and pressures are much better than other SML/SUL wells.
This is a new milestone discovery based on the results of recently completed Mari 3D seismic survey. The new seismic data has also helped in identifying new prospects at different reservoir levels, which will be drilled in the next 2-3 years to discover significant new hydrocarbon reserves in the area.
Being an exploratory well, production from Shahbaz-1 will be eligible for much higher 2012 Petroleum Policy price, which will boost the Company’s revenues and will help to keep its exploration efforts on track.
Discovery at Shahbaz-1 has further augmented MPCL’s exploration success rate which is already the highest in the Country. This discovery will further enhance the Country’s and the Company’s hydrocarbon reserve base and play a pivotal role in achieving the Company’s planned growth and expansion targets.