Mari Energies Limited (MARI) announced on Friday the discovery of oil and gas in Sindh’s Mari Ghazij CF-B1 Well.
MARI disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.
“Mari Ghazij CF-B1 well was spud-in on September 12, 2025 and successfully drilled down to the total depth of 1,195 meters into SUL formation,” the company said.
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In its notice, MARI further said that the well targeted the oil-prone zones within Ghazij formation.
“During testing, the well produced 305 barrels per day of oil along with 3 MMSCFD gas with wellhead flowing pressure (WHFP) of 225 Psi at 48/64 inch choke size.”
Arif Habib Limited (AHL), in a note, said that the latest discovery is expected to contribute approximately Rs1.29 per share annually to MARI’s earnings.
By operating the country’s largest gas reservoir at Mari Gas Field, Daharki, Sindh, MARI is the second largest producer of natural gas in Pakistan.
The company is an integrated oil and gas exploration and production company and around 70% exploration success rate, which is much higher than industry averages of around 33% nationally and 14% internationally.
MARI’s key customers include fertiliser manufacturers, power generation companies, gas distribution companies, and refineries.
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