ISLAMABAD: Mari Energies Limited (formerly Mari Petroleum Company Limited) has commenced hydrocarbon production from the Shewa discovery in the *Waziristan Block, Khyber Pakhtunkhwa, under the *Extended Well Testing (EWT) phase.
In a notice to the Pakistan Stock Exchange (PSX) on Tuesday, the company confirmed that gas and condensate production had begun following the completion of the gas transmission pipeline by SNGPL.
Initial production rates stand at 26 MMSCFD of gas and *244 BBLs/D of condensate, with output expected to *increase gradually as processing and export systems stabilize.
Mari Energies holds a 55% working interest in the *Waziristan Block, with *Oil and Gas Development Company Limited (OGDCL) and Orient Petroleum Inc. holding 35% and 10% shares, respectively.
“This milestone significantly enhances Pakistan’s energy security and contributes to the socio-economic development of the region,” the company stated.
Last month, Mari Energies announced a hydrocarbon discovery at the Spinwam-1 exploration well in Khyber Pakhtunkhwa.
Despite these advancements, the company reported a 39% year-on-year decline in profit-after-tax (PAT) for *2QFY25, posting **Rs11.17 billion, compared to *Rs18.36 billion in the same period last year. The decline was attributed to lower revenue and higher operational expenses.
