ISLAMABAD: Mari Energies Limited has awarded a contract for the sale of up to 17.5 million standard cubic feet per day (MMscfd) of natural gas from its Spinwam Gas Discovery in Khyber Pakhtunkhwa’s Waziristan Block, marking another step towards implementing Pakistan’s third-party gas sale framework.
In a material information notice submitted to the Pakistan Stock Exchange (PSX) on Monday, the company announced that it had issued a Letter of Award to Universal Gas Distribution Company (Pvt) Ltd (UGDC) following the successful completion of a competitive bidding process.
The award follows Mari Energies’ Invitation to Bid, which was advertised on May 15, 2026, for the purchase and sale of gas from the Spinwam Gas Discovery.
According to the company, Universal Gas Distribution Company has been selected as the successful bidder for the sale of up to 17.5 MMscfd of natural gas from the discovery.
Mari Energies stated that the transaction remains subject to obtaining regulatory and other required approvals in accordance with the Framework for Sale of Gas to Third Parties, notified through S.R.O. 11(I)/2025 dated January 7, 2025.
The company said the approvals will be pursued before commercial implementation of the agreement.
Mari Energies is the operator of the Waziristan Block with a 55% working interest. Oil and Gas Development Company Limited (OGDCL) holds a 35% stake, while Orient Petroleum Inc. owns the remaining 10% working interest.
The disclosure was made under Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations.
