Mari Energies secures Ghotki lease renewal until 2065

The federal government of Pakistan has approved the renewal of the Mari Development and Production Lease (D&PL) in the Ghotki District of Sindh. The lease, held by Mari Energies Limited, has been extended until November 10, 2065.

Mari Energies, formerly known as Mari Petroleum Company Limited, holds a 100% working interest in the lease. The company stated that the long-term renewal provides certainty for continued investment in exploration and development activities. These operations are intended to enhance production from the field, contributing to Pakistan’s domestic energy and food security.

Financial details regarding the renewal, including specific investment amounts or changes to royalty arrangements, were not disclosed. Following the announcement, market analysis suggests a bullish technical setup for the company's stock on the Pakistan Stock Exchange, with a projected upside target of 832.