Karachi: Mari Energies Limited has announced a significant development in its gas distribution strategy following the successful conclusion of a bidding process for the Spinwam Gas Discovery in the Waziristan Block, Khyber Pakhtunkhwa. On August 3, 2026, the company disclosed the issuance of a 'Letter of Award' to the successful bidder, Messrs. Universal Gas Distribution Company (Pvt) Ltd, for the sale of up to 17.5 million standard cubic feet per day (MMscfd) of gas.

The announcement came in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 (a) of the Pakistan Stock Exchange (PSX) Regulations. The bidding process was initiated with an Invitation to Bid advertised on May 15, 2026. The parties involved will now seek the necessary regulatory and other approvals, as outlined in the Framework for Sale of Gas to Third Parties, which was notified under S.R.O. No. 11(1)/2025 on January 7, 2025.

According to information available from the Pakistan Stock Exchange (PSX), Mari Energies serves as the operator of the Waziristan Block, holding a 55% working interest. The joint venture partners include Oil and Gas Development Company Limited with a 35% interest and Orient Petroleum Inc. with a 10% stake. This move marks a pivotal step in expanding the gas supply infrastructure and optimizing resource management within the designated market category.