Mari Energies Limited has issued a Letter of Award to Universal Gas Distribution Company (Pvt) Ltd for the sale of up to 17.5 million standard cubic feet per day (MMscfd) of gas from the Spinwam Gas Discovery located in the Waziristan Block of Khyber Pakhtunkhwa. The company disclosed the development through a filing submitted to the Pakistan Stock Exchange (PSX).
The gas sale agreement follows a competitive bidding process initiated through an Invitation to Bid published on May 15, 2026. Universal Gas Distribution Company emerged as the successful bidder after completing the required evaluation process. Following the Letter of Award, both companies will proceed with obtaining regulatory clearances and other required approvals before finalising the gas sale arrangement. The approval process will be conducted under the Framework for Sale of Gas to Third Parties, which was notified through S.R.O. No. 11(I)/2025 issued on January 7, 2025.
Under the third-party gas sale framework, energy companies are allowed to enter supply arrangements with eligible buyers while complying with regulatory requirements. The agreement between Mari Energies and Universal Gas Distribution Company represents progress toward utilising gas resources from the Waziristan Block and expanding access to domestic energy supplies. Mari Energies serves as the operator of the Waziristan Block and holds a 55% working interest in the project. The company is partnered with Oil and Gas Development Company Limited, which holds a 35% working interest, and Orient Petroleum Inc., which owns the remaining 10% share.
The Waziristan Block is part of Mari Energies’ broader exploration and production portfolio, where the company continues activities related to hydrocarbon discovery, development, and production. The Spinwam Gas Discovery represents one of the company’s resources being prepared for commercial utilisation through approved sales channels.
Shares of Mari Energies Limited were trading at Rs653.59 on August 3, 2026, showing an increase of Rs7.19 or 1.11% during the trading session at 10:45 am. Mari Energies Limited, previously known as Mari Petroleum Company Limited, was incorporated in Pakistan as a public limited company on December 4, 1984, under the Companies Ordinance, 1984, which has since been replaced by the Companies Act, 2017.
The company is primarily engaged in the exploration, production, and sale of hydrocarbons. Alongside its core energy operations, Mari Energies also provides exploration and production-related services and participates in ventures involving mineral mining and technology-related businesses. The gas sale arrangement with Universal Gas Distribution Company highlights continued activity within Pakistan’s energy sector as companies seek to develop local resources, strengthen supply networks, and expand commercial opportunities through regulatory frameworks supporting third-party gas transactions.
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