Mari Energies Secures 65% Stake and Operatorship in Peshawar Block

September 30, 2025  

Mari Energies Limited (PSX: MARI) has entered into a farm-out agreement with Hycarbex American Energy Inc., under which it will acquire a 65% working interest along with operatorship of the Peshawar Block in Khyber Pakhtunkhwa.

The transaction remains subject to regulatory approvals, execution of deeds of assignment with the government, and completion of other formalities.

“This acquisition reflects Mari Energies’ strategy to strengthen its upstream portfolio by expanding into promising onshore blocks across Pakistan,” the company noted in its disclosure to the Pakistan Stock Exchange (PSX).

For Hycarbex, the agreement provides an opportunity to reduce exposure while onboarding an experienced local operator with robust infrastructure and technical expertise.

Headquartered in Islamabad, Mari Energies continues to pursue growth in Pakistan’s exploration and production sector as the nation works to enhance domestic energy supplies amid persistent demand challenges.