Mari Energies makes second gas and condensate discovery at Spinwam-1 well

Mari Energies Limited has announced a second gas and condensate discovery at its Spinwam-1 well in the Waziristan Block, Khyber Pakhtunkhwa, further strengthening Pakistan’s domestic energy reserves. 

The company, which operates the block with a 55% working interest, confirmed that the discovery was made in the Kawagarh Formation, following an earlier find in the Samanasuk Formation.

According to Mari Energies’ notice to the PSX, Spinwam-1 well has produced 20.485 million standard cubic feet per day (MMSCFD) of gas and 117 barrels per day (BPD) of condensate, with a wellhead flowing pressure of 3,431 pounds per square inch (psig) using a 32/64-inch choke size. The company stated that further evaluation is being conducted to assess the full potential of the well and other targeted formations.

The discovery is expected to contribute significantly to Pakistan’s indigenous energy production, reducing reliance on imported fuel sources. 

Following the announcement of Mari Energies Limited’s second gas and condensate discovery at Spinwam-1 well in the Waziristan Block, the company’s share price surged by 7.32%, reflecting strong investor confidence. As of 1:39 PM on March 17, 2025, Mari Energies’ stock was trading at Rs649.98, up Rs44.32 from the previous session. 

Mari Energies operates the Waziristan Block alongside Oil and Gas Development Company Limited (OGDCL) and Orient Petroleum Inc., which hold 35% and 10% working interests, respectively.