KARACHI: An exploration firm has announced finding of new gas reserves in Sindh’s northern district of Ghotki.

Mari Petroleum Company in stock exchange filing has said that the discovery of gas at a rate of 10.866 mmscfd would augment the national grid with additional volumes which in turn will help in mitigating the energy shortage in the country.

The announcement helped the share price of the company shoot up by Rs9.72 to close at Rs 942.92 with a turnover of 104,750 shares.

The notification added the well was drilled down to a depth of 1,180 meters to explore the hydrocarbon potentials of Sui Main Limestone and Sui Upper Limestone.

Mari Petroleum Company Limited (MPCL) is the sole owner and operator of Mari Gas Field, which is the largest gas field in the country in terms of balance reserves, it said.