Mari Energies issues Letter of Award for Spinwam gas supply contract

Mari Energies Limited, formerly known as Mari Petroleum Company Limited (MARI), has awarded a contract to Universal Gas Distribution Company (Pvt) Ltd for the sale of up to 17.5 million standard cubic feet per day (MMscfd) of gas from the Spinwam Gas Discovery, issuing a Letter of Award after inviting bids on May 15, 2026.

The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.

“The parties will now obtain the regulatory and other requisite approvals as envisaged in the Framework for Sale of Gas to Third Parties notified vide S.R.O. No. 11(I)/2025 dated 7th January 2025,” one of Pakistan’s largest energy and exploration companies said in the notice.

READ MORE: Mari Energies uncovers more hydrocarbon reserves in KP’s Spinwam-1 well

A Letter of Award, also referred to as a Notification of Award (NoA), is an official document issued to a successful bidder after a bid has been accepted.

It signifies that the bidder has won the contract and is subsequently required to furnish a performance security and an environmental and social performance security within a stipulated timeframe. If a successful auction participant declines to sign the letter of award when their bid is accepted, the bid bond may be encashed.

In its notice, MARI added that the company is the operator of Waziristan Block having 55% working interest along with Oil and Gas Development Company Limited and Orient Petroleum Inc. as joint venture partners having 35% and 10% working interests, respectively.

The E&P is the country’s second-largest producer of natural gas. It is an integrated oil and gas company with an exploration success rate of around 70%, which is significantly higher than the industry averages of approximately 30% nationally and 14% internationally.

The company operates Pakistan’s largest gas reservoir at Mari Gas Field, Daharki, Sindh.