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Mari Energies Limited (MARI), one of Pakistan’s top oil and gas explorers, is stepping into technology with new data centers. The company is developing a 5MW facility in Islamabad, which will be ready early next year. Construction is also in progress on another site in Karachi.
The update came during MARI’s annual general meeting, attended by Arif Habib Limited (AHL). The brokerage noted that MARI has created two new subsidiaries: Mari Technologies, fully owned, and SKY47, with a 60% stake.
This expansion follows last year’s decision to invest Rs10 billion, about $36 million, in tech ventures. The initiative included a wholly owned subsidiary to set up data centers across Pakistan. These facilities will host data for public and private organizations.
Operationally, MARI delivered strong results in FY25. The company added 110 million barrels of oil equivalent (BOE) to its 2P reserves. This boosted its Reserve Replacement Ratio to 278% and extended the 2P Reserve to Production ratio to 20 years.
Production also reached record levels. MARI produced 39.13 million BOE in FY25, marking a 0.31% increase from the prior year. A significant highlight was the Spinwam-1 discovery in the Waziristan Block. It added four horizons with more than 50 million BOE to the resources.
Internationally, MARI made three discoveries in Abu Dhabi, with reserves estimated at 110 million BOE. Development plans are expected to be reviewed at the ADNOC board meeting in October 2025, according to AHL.
Financially, the company posted a profit after tax of Rs65.4 billion in FY25. This was down from Rs77.3 billion in FY24 due to lower revenue and rising expenses.
MARI’s entry into technology highlights its diversification strategy. With demand for data services growing in Pakistan, these projects could define its next phase of growth.
