New gas and oil reserves have been discovered in the Waziristan block of Khyber Pakhtunkhwa, marking a significant boost to the country’s hydrocarbon resources. The discovery was made on Tuesday following drilling operations at the Spanwam One well, which revealed 12.96 million cubic feet of gas per day along with 20 barrels of crude oil. Drilling at the well began on May 28, 2024.
Mari Energies, which operates the Waziristan block, holds a 55% stake, with the remaining shares owned by Oil & Gas Development Company Limited (OGDCL) and OPI as part of a joint venture.
The company has expressed that this discovery will play a vital role in enhancing the nation’s energy resources and reiterated its commitment to further exploration efforts. They also acknowledged the support from national security agencies, as well as federal and provincial governments, in facilitating the discovery.
