Pakistan has achieved a significant milestone in its energy sector with the discovery of a second substantial oil and gas reserve in the Waziristan Block, located in Khyber Pakhtunkhwa. Mari Petroleum Company Limited (MPCL) announced that the Spin Wam-1 well is producing approximately 20.485 million standard cubic feet of gas per day (MMSCFD) and 117 barrels of light crude oil daily, with a flow pressure of 3,431 pounds per square inch (psi).

Consortium Details:

  • Mari Petroleum Company Limited (MPCL): Holds a 55% stake and serves as the operator of the Waziristan Block.
  • Oil & Gas Development Company Limited (OGDCL): Possesses a 35% share.
  • Orient Petroleum: Owns a 10% stake.

Implications:

Energy experts believe that the Waziristan Belt holds substantial potential for further oil and gas discoveries. This development is expected to enhance Pakistan’s energy security and reduce reliance on imported hydrocarbons.