ISLAMABAD, Aug 1: A significant gas discovery has been made by Sukkur Joint Venture (SJV) from Koonj Well No 1A in Sukkur exploration block.

This finding will add indigenous source of the country’s gas reserve base resulting in substantial saving of foreign exchange.

The joint venture comprises Mari Gas Company Limited (MGCL), the operator with 50 per cent interest share, Petroleum Exploration Limited (PEL) having 35 per cent share and Sovereign Energy Corporation, a Canadian exploration and production company holding 15 per cent shares.

The well was spud-in on April 22, 2008 and drilled down to a depth of 1,475 metres. Based on the wire-line logs, drilling data and geological information, the well was tested using drill stem testing methods.

As a result the Koonj well discovery was made in the Sui Main Limestone Formation which tested minimum gas flow rate of 8.61 MMSCF per day.

The flow rate from the well is expected to increase significantly with acidisation treatment which is planned to be conducted after well completion.

According to a press release issued here on Friday, Mari Gas had also conducted extensive exploration activities in the block area. There exist two other prospects within the Sukkur block area which would be drilled soon.

Mari Gas is one of the major gas producers of the country and has also made three new gas discoveries in Sui Main Limestone and Pirkoh Limestone Formation, Mari and Ziarat gas field.