Mari Energies’ Ghotki Development Lease Renewed Until 2065
KARACHI: The federal government has approved the renewal of the Mari Development and Production Lease (D&PL) in District Ghotki, Sindh, in favour of Mari Energies Limited, allowing the company to continue exploration and production activities at the field until 2065.
According to a material information disclosure submitted by the company to the Pakistan Stock Exchange (PSX) on Friday, the lease has been renewed until November 10, 2065, subject to applicable rules and conditions.
Mari Energies, formerly known as Mari Petroleum Company Limited, is the operator of the Mari D&PL and holds a 100% working interest in the lease.
The company said the renewal would allow it to continue investing in exploration and development activities aimed at sustaining and enhancing production from the field.
Mari Energies added that continued operations at the field would contribute to Pakistan’s energy and food security, highlighting the strategic importance of domestic hydrocarbon production.
The company did not disclose details of the financial terms of the renewed lease, expected production levels, planned additional investment or any changes to production-sharing or royalty arrangements.
Mari Energies is a public listed company incorporated in Pakistan in 1984. It is principally engaged in the exploration, development, production and sale of hydrocarbons, while also providing exploration and production-related services and participating in mineral mining and technology-related ventures.
The long-term renewal of the Ghotki lease is expected to provide the company with greater certainty to undertake further field development and exploration activities while supporting Pakistan’s domestic energy supply.
Story by Muhammad Saqib
