Company makes three discoveries in Abu Dhabi oil exploration block
ISLAMABAD: Mari Energies is targeting to produce around 25,000 bar-rels per day (bpd) of oil from its three discoveries in the Abu Dhabi block.
In the company’s corporate briefing held on Tuesday to discuss its FY25 performance and the future outlook, the management confirmed. that a board meeting was or-ganised with the Abu Dhabi National Oil Company (Adnoc), where the produc-tion plan was approved and “the project will now move to the development phase”, Mari management re-vealed that they were eye-ing a production target of around 25,000 bpd from the three discoveries in the Abu Dhabi block.
The company reached the highest-ever production level of 39.13 million barrels of oil equivalent (mmboe) in FY25. However, it outlined. that gas supply curtailment and an additional 15% royalty resulted in lower earnings during the financial year.
OPTIMUM CAPACITY: According to the management, it will take around two to three years to push both Spinwam and Shewa production facilities to their combined full potential of 300 mmcfd with estimated capital expenditure of $400-500 million.
The company has man aged to reduce reliance on the Mari field to 80% (compared to 95% in FY20), following new dis-coveries in Waziristan and Sujawal blocks.
While a deferment plan for liquefied natural gas (LNG) cargoes has been sent to Qatar and is awaiting approval, Mari anticipates a 10-15% decline in produc-tion due to curtailment in FY26 if the plan is not ap-proved. It added that part of this risk could be miti-gated through third-party allocation, however, it is unlikely to fully offset the impact of curtailment.
Currently, the Shewa gas field has a production ca-pacity of 70 million cubic feet per day (mmcfd) while the Spinwam well (set to be added to the same facility) is expected to contribute an additional 30 mmcfd initially. Upon full develop-ment, these frontier fields are projected to add a fur-ther 200 mmcfd.
According to the Mari management, it will take around two to three years to push both Spinwam and Shewa to their com bined full potential of 300 mmcfd. The estimated capital expenditure (capex) on these developments will be $400-500 million if new equipment is purchased, however, the company is also exploring other alter natives, which may lower the capex level.
Chazij and Shawal fields are currently undergoing extended testing, contrib uting approximately 40 mmcfd. Combined, the fields have the potential to produce up to 58 mmcfd but they are not operating at full capacity and are awaiting al location. Once the allocation is granted, further develop ment could increase output by 180 mmcfd, which is ex-
pected to be achieved in 18 to 24 months.
Mari aims to sustain its current production level of 595-600 mmcfd from the Habib Rahi Limestone (HRL) reservoir as long as possible through production enhancement facilities. The company currently has no plans to increase production from this field.
Regarding Sky47, the management expects the first data centre to be com-pleted soon, while the one in Karachi is scheduled for completion by the end of next year. The Karachi data centre will operate on a hybrid energy mix, combining green energy and grid power, whereas in the north they will initially rely solely on the grid, with plans to move towards a more sustain-able solution over time.
The management of Mari Energies shared that the company aims to maintain a drilling pace of 15 to 20 wells annually over the next five years.
