Karachi: Mari Energies Limited announced new acquisitions in its upstream portfolio on Friday, involving significant working interests in strategic hydrocarbon blocks across Pakistan. The acquisitions, achieved through farm-out agreements with Orient Petroleum Inc., mark a substantial step in the company’s strategy to enhance its exploration and development capabilities.

Under the agreements, Mari Energies Limited (MariEnergies) will take over a 45% working interest and operatorship in both the Marwat block located in Khyber Pakhtunkhwa and the Harnai South block situated in Balochistan. Additionally, the company will acquire a 20% non-operating working interest in the Ratana Development and Production Lease in Punjab. These transactions are pending requisite regulatory approvals and the finalization of deeds of assignment with the government.

According to information available from the Pakistan Stock Exchange (PSX), these strategic moves are aligned with MariEnergies' objective to bolster its upstream portfolio. The acquisitions are designed to support indigenous hydrocarbon exploration and development activities, thereby contributing to Pakistan's energy security.

This expansion is part of MariEnergies’ broader goal to tap into remaining prospective onshore hydrocarbon areas in the country. The transactions reflect a proactive approach in securing energy resources and enhancing the company’s role in Pakistan’s energy landscape.

The information was disclosed in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Regulations, ensuring transparency among stakeholders.