MARI to commission 5MW data centre in Islamabad next year

Mari Energies Limited (MARI), one of Pakistan’s largest oil and gas exploration companies, has diversified into technology through data centre projects, with a 5MW facility in Islamabad set for completion early next year and construction already underway in Karachi.

The E&P provided the update in an annual general meeting, which was attended by Arif Habib Limited (AHL) on Friday.

The brokerage house shared that MARI has recently incorporated two new subsidiaries—Mari Technologies (100% owned) and SKY47 (60% owned), as it seeks to diversify its portfolio.

Last year, MARI approved an investment of Rs10 billion, i.e. approximately $36 million, to establish a wholly-owned subsidiary focused on technology-driven ventures. Under the initiative, MARI planned to establish data centres at multiple locations across Pakistan to host data for public and private institutions.

Meanwhile, according to AHL, MARI added 110 million barrels of oil equivalent (BOE) to its 2P reserves in FY25, taking its Reserve Replacement Ratio to 278% and extending its 2P Reserve to Production (R/P) ratio to 20 years.

During the last fiscal year, the company achieved its highest-ever production in FY25 at 39.13 million BOE, marking a 0.31% year-on-year increase. Notably, MARI reported a significant discovery in Spinwam-1 (Waziristan Block), adding four new horizons with more than 50mn BOE to resources.

Internationally, the company made three discoveries in the Abu Dhabi Block, containing estimated reserves of 110mn BOE. AHL shared that further development plans are expected to be discussed at the ADNOC board meeting scheduled for October 2025.

On the financial front, MARI posted a profit after tax (PAT) of Rs65.4 billion in FY25, down from PKR 77.3 billion in FY24.

The decline in profit was attributed to lower revenue and higher expenses incurred during the period.