KARACHI: Mari Energies Ltd has entered into farm-out agreements with Orient Petroleum Inc (OPI) to acquire interests in three oil and gas blocks across Pakistan, marking a strategic expansion of its upstream portfolio.
Under the agreements, Mari Energies will assume a 45% working interest and operatorship in the Marwat Block (Khyber Pakhtunkhwa) and the Harnai South Block (Balochistan). Additionally, the company will acquire a 20% non-operating working interest in the Ratana Development and Production Lease located in Punjab.
The deal is subject to regulatory approvals, execution of assignment deeds with the federal government, and completion of other formalities.
Mari Energies stated that the acquisitions align with its strategic objective to expand operations in underexplored yet high-potential onshore regions, contributing to enhanced energy security through increased indigenous hydrocarbon exploration and production.
The announcement was made in accordance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Regulations.
