The Ministry of Energy (Petroleum Division) has provisionally granted exploration rights for Block 28-North (3068-11) in Balochistan to Mari Energies Limited.
The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) today.
It said that the company was coordinating with the Directorate General of Petroleum Concessions for finalisation and execution of the Petroleum Concession Agreement (PCA) and Exploration Licence (EL) in line with the applicable rules and procedures.
“This award is subject to final execution of relevant agreements with the government,” the notice to the bourse said.
Mari Energies Limited is a public limited company incorporated in Pakistan on December 4, 1984, under the Companies Ordinance, 1984 (now superseded by the Companies Act, 2017).
The company is principally engaged in the exploration, production, and sale of hydrocarbons.
By operating the country’s largest gas reservoir at Mari Gas Field, Daharki, Sindh, MARI is the second largest producer of natural gas.
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