Pakistan has made a significant gas discovery in the Shewa fields of North Waziristan, with reserves estimated at 351.2 billion cubic feet (BCF) and a projected lifespan of 17 years. The country is preparing to inject 70 million cubic feet per day (mmcfd) from the Shewa-2 well into the national grid, boosting domestic gas production by over 3% daily. This increase will reduce reliance on costly fuel imports and save substantial foreign exchange reserves.
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According to Mari Petroleum’s 2024 Annual Report, the company is set to connect 70mmcfd of gas from Shewa-2 into the system via a pipeline recently completed by Sui Northern Gas Pipeline Limited (SNGPL). Despite initial delays due to security concerns, the pipeline was finished in August 2024, and gas injection will begin once the Early Production Facilities (EPF) are commissioned. This move is expected to significantly enhance the indigenous gas supply, diversify Mari Petroleum’s production portfolio, and generate substantial revenue.
The Shewa gas reserves are projected to last about 14 years at the current production rate. Following the announcement, Mari Petroleum’s share price rose by 1.93% on the Pakistan Stock Exchange (PSX). The Waziristan Block, where the Shewa fields are located, is operated by Mari Petroleum with a 55% working interest, while the Oil and Gas Development Company (OGDC) and Orient Petroleum Inc (OPI) hold 35% and 10% interests, respectively. The discovery is part of a broader positive trend in Pakistan’s energy sector, with recent increases in both crude oil and gas reserves, signaling a more optimistic outlook for the country’s energy production.
