Mari Energies Limited (PSX: MARI) has entered into farm-out agreements with Orient Petroleum Inc. (OPI) to acquire stakes in three strategic oil and gas assets across Pakistan, according to a stock filing.
Under the agreement, Mari Energies will obtain a 45 percent working interest and assume operatorship in both the Marwat Block in Khyber Pakhtunkhwa and the Harnai South Block in Balochistan.
Additionally, the company will acquire a 20 percent non-operating working interest in the Ratana Development & Production Lease located in Punjab.
The acquisitions are subject to regulatory approvals, execution of assignment deeds with the government, and other closing formalities.
Mari Energies said the move is aimed at strengthening its upstream portfolio and expanding into remaining prospective onshore areas, supporting domestic hydrocarbon exploration and development, and enhancing Pakistan’s energy security.