Mari Energies secures major exploration rights

May 14, 2025 (MLN): Mari Energies Limited (PSX: MARI) has received the provisional award of ten new exploration blocks from the Directorate General of Petroleum Concessions (DGPC), as communicated in letters dated 13 May 2025.

Of these, seven blocks have been awarded to MariEnergies as the Operator, while the remaining three are awarded as Joint Venture (JV) Partner one each with Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Prime Global Energies Limited (Prime) as Operators.

The awarded blocks, granted following the Pakistan E&P Onshore Bid Round 2025 conducted on 30 April 2025, are based on competitive bidding and work unit commitments.

Government Holdings Pvt Ltd (GHPL) and Turkish Petroleum Overseas Company (TPOC) are also JV partners in various blocks, the notification issued to the local bourse.

The detailed working interests are as follows:

The formal award is subject to the grant of Petroleum Exploration Licenses by the Government, execution of Petroleum Concession Agreements and Joint Operating Agreements among JV partners, and completion of legal and procedural formalities.

This acquisition is aligned with MariEnergies’ strategic objective to expand its acreage and support Pakistan’s long-term energy security and self-reliance.

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