Commencement of Production from Spinwam-1 Discovery in Waziristan Block – KP Province
We are pleased to announce that gas and condensate production has commenced from Spinwam-1 discovery located in Waziristan Block in KP Province under the Extended Well Testing (EWT) phase. The well has been completed in Lockhart reservoir. The current gas production rate from the well is -40 MMscfd, and - 200 BBL/D of condensate. With the induction of this gas, the early production facilities established at Shewa will be operated at full capacity with total production from both Shewa and Spinwam wells will be around 100 MMscfd gas and -800 BBL/D of condensate. The Joint Venture comprises Oil & Gas Development Company Limited (35% working interest),Mari Energies Limited (the Operator of Waziristan Block) (55%), and Orient Petroleum Inc. (10%) working interest, respectively.
The above information is being submitted in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 (a) of the PSX Regulations for dissemination among your members.
