Karachi, August 3, 2026: MariEnergies Limited has announced a major development in the commercialization of its Spinwam Gas Discovery in the Waziristan Block, Khyber Pakhtunkhwa, by issuing a Letter of Award (LoA) to Universal Gas Distribution Company (Pvt) Ltd for the purchase of natural gas from the field.
According to the company’s disclosure submitted to the Pakistan Stock Exchange (PSX), the award follows the successful completion of a competitive bidding process initiated through an Invitation to Bid published on May 15, 2026. The agreement covers the sale of up to 17.5 million standard cubic feet per day (MMscfd) of natural gas from the Spinwam Gas Discovery.
The transaction marks an important milestone in bringing the gas discovery toward commercial production. Before gas supplies can commence, both parties will seek the necessary regulatory and statutory approvals in accordance with the Framework for Sale of Gas to Third Parties, notified through S.R.O. No. 11(I)/2025 dated January 7, 2025.
MariEnergies is the operator of the Waziristan Block with a 55% working interest. The project is being developed in partnership with Oil and Gas Development Company Limited (OGDCL), which holds a 35% stake, and Orient Petroleum Inc., which owns the remaining 10% working interest.
The award of the gas purchase contract represents another step toward enhancing the utilization of Pakistan’s indigenous energy resources. Once regulatory approvals are secured, the project is expected to contribute to domestic gas supplies while supporting the country’s energy security and reducing reliance on imported fuels.
The announcement was made in compliance with Section 96 of the Securities Act, 2015, and the Pakistan Stock Exchange Regulations governing the disclosure of material and price-sensitive information.
