Mari Energies Limited (PSX: MARI) has received government approval for the renewal of its Mari Development and Production Lease in Ghotki, Sindh, allowing the company to continue exploration and development activities in the area until 2065.
The company disclosed the development in a notice sent to the Pakistan Stock Exchange on Friday.
According to the notice, the Federal Government approved the renewal of the Mari Development and Production Lease in accordance with the relevant rules and subject to applicable conditions.
The renewed lease will remain effective until November 10, 2065, providing Mari Energies with a long-term framework to continue its operations in the Ghotki area.
Mari Energies said it is the operator of the Mari Development and Production Lease and holds a 100% working interest in the lease.
The company said the lease renewal will enable it to continue investing in exploration and development activities aimed at maintaining and enhancing production from the field.
Mari Energies expects continued exploration and development efforts to support the long-term productivity of the asset.
The company added that these activities will contribute to Pakistan’s broader food and energy security by supporting domestic energy production.
The renewal provides Mari Energies with greater certainty for its long-term exploration and development plans in Ghotki while supporting continued investment in Pakistan’s energy sector.
