KARACHI – Mari Energies Limited has awarded a gas sales contract to Universal Gas Distribution Company (Pvt) Ltd for the supply of up to 17.5 million standard cubic feet per day (MMscfd) from its Spinwam gas discovery in the Waziristan Block, Khyber Pakhtunkhwa.
The company disclosed the development in a notice submitted to the Pakistan Stock Exchange (PSX) on Monday, saying the award was made after a competitive bidding process initiated through an Invitation to Bid published on May 15, 2026.
The agreement remains subject to obtaining regulatory clearances and other necessary approvals under the Framework for Sale of Gas to Third Parties, issued through S.R.O. No. 11(I)/2025 on January 7, 2025.
Mari Energies serves as the operator of the Waziristan Block and holds a 55% working interest in the project. Its joint venture partners include the Oil and Gas Development Company Limited (OGDCL) with a 35% stake and Orient Petroleum Inc. With a 10% interest.
At around 10:45am on August 3, Mari Energies shares were trading at Rs653.59, gaining Rs7.19, or 1.11%, on the PSX.
Mari Energies, previously known as Mari Petroleum Company Limited, was incorporated in Pakistan on December 4, 1984.
The company operates primarily in the exploration, development, production and marketing of hydrocarbons.
Its business activities also include providing services linked to exploration and production as well as investments and operations in areas such as mineral mining and technology.
