Mari Energies secures renewal of Mari D&PL till 2065

Mari Energies Limited has obtained a renewal of its Mari Development and Production Lease, or Mari D&PL, from the Federal Government. As Mettis Global reported, the extension runs until November 10, 2065, though it remains subject to applicable conditions. The company disclosed the decision to the Exchange through a notice to the Pakistan Stock Exchange.

The renewal was granted under the relevant rules and covers a lease in District Ghotki, Sindh Province. The field sits in that district, where Mari Energies acts as operator with a 100% working interest.

According to the company, the extended term will let it keep investing in exploration and development work aimed at sustaining and raising output. The company also said these activities would contribute to the country's food and energy security.