Mari Energies Ltd., Pakistan’s No. 2 oil and gas explorer, is set to formally take over significant stakes in three Orient Petroleum blocks within days, cementing its position in some of the country’s most promising hydrocarbon zones.
“The process of formally claiming its stakes and relocating to the sites will conclude in a few days. It gives Mari a commanding position in key exploration zones where the upside potential is high,” a senior company executive told the Newser, asking not to be identified.
Under the deal signed more than a month ago, Mari Energies will take a 45% operating interest in the Marwat block in Khyber Pakhtunkhwa, a 45% operating stake in the Harnai South block in Balochistan, and a 20% non-operating interest in the Ratana field in Punjab. The new assets sit near proven discoveries, including Mari’s Ziarat, Nerali and Harnai fields, creating operational synergies.
Rebranded in January from Mari Petroleum, the Islamabad-based company already runs Pakistan’s largest gas field in Daharki, Sindh, with output exceeding 100,000 barrels of oil equivalent a day. Its 70% exploration success rate dwarfs the national average of 33%, while its supply fuels more than 90% of Pakistan’s fertilizer production and key power plants. Fauji Foundation holds 40% of the company.
The acquisition caps a flurry of activity in 2025. In February, Mari announced new gas and condensate finds in Waziristan, where it operates alongside Orient Petroleum and state-owned OGDC. It also expanded into minerals with an 87.5% stake in Chagai, Balochistan, and last week signed a pact with Ghani Chemical to process exhaust gases from its Sachal plant to cut emissions.
For Orient Petroleum, part of Hashoo Group, the farm-out marks a strategic reset, trimming exposure in Punjab and frontier provinces while maintaining partnerships in adjoining basins. Analysts say the deal could accelerate drilling in frontier zones like Taank-Bannu, where hydrocarbon seepages hint at a working petroleum system.