Karachi: Mari Petroleum Company Limited (MARI) has acquired working interest from Spud Energy Pty Ltd (SEPL) in Zarghun South and Nareli Block. Mari shared development in its notice to Pakistan Stock Exchange. “Mari and SEPL have signed agreements for acquisition of 40 percent working interest in Zarghun South D&PL and 27.55 percent working interest in Nareli Block by Mari from SEPL,” read notice.

Mari shared said acquisitions are subject to requisite regulatory approvals and completion of related formalities. Spud Energy Pty Ltd (SEPL) is wholly owned subsidiary of Jura Energy Corporation, an international energy company engaged in exploration, development and production of petroleum and natural gas properties in Pakistan.

Zarghun South covers an area of 124.22 square kilometres and is located in western part of Sulaiman Fold and Thrust Belt of Middle Indus Basin in Pakistan and is located near gas demand centre of city of Quetta, Balochistan.

Meanwhile, Nareli Block covers an area of approximately 2,414.95 square kilometres and is located in Harnai, Sibi and Loralai districts in Balochistan. By operating country’s largest gas reservoir at Mari Gas Field, Daharki, Sindh, E&P is second largest producer of natural gas in country.

Company is an integrated oil and gas exploration and production company and around 70 percent exploration success rate, which is much higher than industry averages of around 33 percent national and 14 percent international.

Published in The Daily National Courier, February, 08 2024

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