Universal Gas Distribution Company (Pvt) Ltd has been selected purchase gas produced from the Spinwam discovery in the Waziristan Block in Khyber Pakhtunkhwa
KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-August 3rd, 2026) : Mari Energies Limited has selected Universal Gas Distribution Company (Pvt) Ltd to purchase gas produced from the Spinwam discovery in the Waziristan Block in Khyber Pakhtunkhwa, with the arrangement covering supplies of up to 17.5 million standard cubic feet per day (MMscfd).
The development was disclosed by Mari Energies in a notice to the pakistan stock exchange (PSX) on Monday. The company said the Letter of Award was issued after completion of a bidding exercise launched through an Invitation to Bid published on May 15, 2026.
The proposed transaction will proceed after the parties secure the necessary regulatory clearances and other approvals required under the Framework for Sale of Gas to Third Parties, notified through S.R.O. No. 11(I)/2025 on January 7, 2025.
Mari Energies is the operator of the Waziristan Block and owns a 55% working interest. The remaining interests are held by joint venture partners Oil and Gas Development Company Limited (OGDCL), with 35%, and Orient Petroleum Inc., with 10%.
Mari Energies’ stock was trading at Rs653.59 on the psx at approximately 10:45am on August 3, marking an increase of Rs7.19, or 1.11%.
The company, formerly known as Mari Petroleum Company Limited, was incorporated in Pakistan in 1984. Its core operations include the exploration, development, production and sale of hydrocarbons.
In addition to its exploration and production activities, Mari Energies provides related technical services and has expanded its business interests into areas including mining and technology.
