Oil & Gas

A local energy company, Mari Energies, has announced a significant acquisition in Pakistan’s oil and gas sector, according to a press release shared by the Washington-based Specialty Energy Platform. The company has reached an agreement with Orient Petroleum to acquire stakes in three oil and gas exploration and production licenses.

While the financial terms of the deal were not disclosed, the acquisition marks a strategic expansion of Mari Energies’ upstream portfolio in key energy-producing regions of Pakistan.

In its disclosure to the Pakistan Stock Exchange, Mari Energies stated that the acquisition will bolster hydrocarbon exploration and development activities, ultimately contributing to the country’s energy security. Pakistan has been grappling with a growing energy deficit, largely driven by the rapid decline in domestic gas production.

By expanding its footprint in unexplored and underdeveloped onshore areas, Mari Energies aims to address this supply gap and support the government’s broader energy resilience strategy.

The assets acquired include a 45% operating stake in the Marwat Block in Khyber Pakhtunkhwa and the Harnai South license in Balochistan. In addition, the company has taken a 30% non-operating interest in the Ratana development and production license located in Punjab.

Mari Energies, formerly known as Mari Petroleum Company Limited, operates Pakistan’s largest gas reservoir in Sindh and maintains one of the country’s highest exploration success rates at nearly 70%. However, the completion of this transaction remains subject to regulatory approvals and other government formalities.

Meanwhile, energy analysts expect Pakistan’s demand for liquefied natural gas (LNG) to stabilize or increase slightly in the 2025–2026 fiscal year, supported by projected economic growth of 4.2%. Although LNG imports declined last year, they remain a vital supplement to the country’s energy mix amid falling domestic production.

With total gas demand expected to range between 3.5 and 4 billion cubic feet per day, and LNG accounting for up to 1.2 billion cubic feet of that, Pakistan will likely continue relying on imported gas unless significant new discoveries are made or pricing reforms are introduced.