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ISLAMABAD: In a first, Mari Energies on Monday announced the award of about 17.5 million cubic feet per day (mmcfd) of natural gas to Universal Gas Distribution Company Ltd (UGDCL) from a new discovery in Waziristan for sale to its select customers.
This is the first such award under the Petroleum Policy 2012 and subsequent decisions of the Council of Common Interests (CCI) and the Economic Coordination Committee (ECC) of the Cabinet last year, allowing gas producers to sell 35pc of new finds to private entities.
In a notice to the Pakistan Stock Exchange, Mari Energies said it had invited bids on May 15 for the award of a contract to sell its gas from the Spinwam Gas Discovery, Waziristan Block, Khyber Pakhtunkhwa.
After “successful conclusion of the bidding process, we have issued a ‘Letter of Award’ to the successful bidder, Universal Gas Distribution Company (Pvt) Ltd (UGDCL) for sale of up to 17.5 mmscfd of gas from the discovery,” it said.
