Islamabad: Mari Energies Limited, formerly known as Mari Petroleum Company Limited (MARI), has announced a significant gas discovery at its Soho-1 exploratory well in the Sujawal Block, located in Sindh’s Sujawal district.
The company, which holds 100% working interest in the Sujawal Block, disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. According to the notification, the well tested gas production at two different choke sizes.
At a 64/64-inch choke, the Soho-1 well yielded 30.01 million standard cubic feet per day (MMSCFD) of gas at a pressure of 1,482.5 psi. At a smaller 32/64-inch choke, the well produced 18.84 MMSCFD at a much higher pressure of 3,447.8 psi.
“This is the first gas discovery in the Lower Goru (Massive Sand) formation in the Sujawal Block and has opened a new exploration avenue in a region where earlier attempts had seen limited success,” the company said in its statement.
Mari Energies also confirmed that further testing of additional targeted formations is underway to fully assess the potential of the well.
This announcement follows the company’s recent commencement of hydrocarbon production from the Shewa discovery in the Waziristan Block, located in Khyber Pakhtunkhwa, marking a busy year for the energy firm in both Sindh and KP.
Despite the positive exploration news, the company’s latest financials showed a decline in profit. Mari Energies reported a profit-after-tax of Rs11.17 billion for the second quarter of FY2025 — a drop of over 39% compared to Rs18.36 billion in the same period last year. The decrease was attributed to lower revenues and increased operational expenses.
Industry analysts view the new discovery as a potential boost to both the company’s resource base and national gas supplies, especially at a time when the country faces growing energy demands.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
