Mari Energies Makes History with First Private Gas Sale Under Petroleum Policy

Mari Energies has made its first private gas sale under Pakistan's Petroleum Policy 2012, awarding a contract to Universal Gas Distribution Company Ltd (UGDCL) for the sale of up to 17.5 million cubic feet per day (mmcfd) of natural gas from its Spinwam Gas Discovery in Waziristan.

The sale is significant as it marks the first time gas producers have been allowed to sell 35% of new finds to private entities, a move aimed at easing liquidity challenges for exploration and production companies and attracting $4-5 billion in fresh investment in offshore exploration.

UGDCL has already become the largest private entity engaged in the sale of natural gas, with over 40 mmcfd currently being sold to private customers. With this new contract, its portfolio will total around 60 mmcfd.

The two parties will now obtain regulatory and other requisite approvals as envisaged in the Framework for Sale of Gas to Third Parties notified on January 7, 2025.