In a strategic move to expand its upstream petroleum portfolio, Mari Energies Limited has entered into farm-out agreements with Orient Petroleum Inc. (OPI) to acquire significant working interests in three exploration blocks across Pakistan.
According to the disclosure submitted to the Pakistan Stock Exchange, Mari Energies will acquire:
45% working interest and operatorship in the Marwat Block (Khyber Pakhtunkhwa)
45% working interest and operatorship in the Harnai South Block (Balochistan)
20% non-operating working interest in the Ratana D&P Lease (Punjab)
These acquisitions are subject to regulatory approvals, execution of deeds of assignment with the government, and other associated formalities.
The company stated that this move aligns with its broader strategy of expanding exploration and development activities across underexplored regions in Pakistan. Mari Energies emphasized that the transaction would contribute to the country’s energy security and reinforce its commitment to responsible resource development.
The disclosure was made in accordance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Regulations. –
ENGINEERING REVIEW
