An Exploration and Production (E&P) company, Mari Petroleum, provided key updates during its Annual General Meeting held on Friday, which was attended by Arif Habib Limited (AHL).
According to the brokerage house, in an effort to diversify its portfolio, Mari has recently established two new subsidiaries: Mari Technologies, a wholly owned entity, and SKY47, in which it holds a 60% stake.
Last year, Mari approved an investment of Rs. 10 billion (approximately USD 36 million) to establish a wholly owned subsidiary focused on technology-driven initiatives. As part of this move, the company planned to set up data centers at multiple locations across Pakistan to host data for both public and private sector organizations.
Meanwhile, AHL reported that in FY2025, Mari added 110 million barrels of oil equivalent (BOE) to its 2P reserves, boosting its Reserve Replacement Ratio (RRR) to 278%. This addition also extended its 2P Reserve-to-Production (R/P) ratio to 20 years.
In the same fiscal year, the company achieved its highest-ever annual production, delivering 39.13 million BOE, reflecting a year-on-year growth of 0.31%. Notably, Mari reported a major discovery at Spin Wam-1 (Waziristan Block), which added four new horizons with recoverable resources exceeding 50 million BOE.
On the international front, the company made three discoveries in the Abu Dhabi block, with estimated reserves totaling 110 million barrels of oil equivalent.
