Mari Energies Limited (PSX: MARI) has received government approval for the renewal of its Mari Development and Production Lease in District Ghotki, Sindh, allowing the company to continue exploration and development till 2065 in the area.
In a notice sent to the Pakistan Stock Exchange on Friday, the company said 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 take effect from November 10, 2065.
Mari Energies said it is the operator of the Mari Development and Production Lease with a 100 percent working interest.
The company said the renewal will allow it to continue investing in exploration and development activities aimed at maintaining and enhancing field production.
According to Mari Energies, these activities will contribute to the country’s food and energy security.
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