Islamabad: Mari Energies Limited has announced a reversal of a super tax amounting to Rs 17.2 billion, following a judgment by the Federal Constitutional Court. The reversal marks a significant financial shift for the company, as it continues to advance multiple projects in the energy sector.

According to JS Global, Mari Energies Limited is making substantial progress in its Waziristan Block, where the company is preparing for the testing and tie-in of Shewa-3 ST1, along with plans to drill Spinwam-2. The company is also working on submitting the Shewa-Spinwam Field Development Plans and aims to expand its facility capacity to 200 MMSCFD by fiscal years 2029 to 2030.

In the Ghazij Shawal area, the company has drilled 25 wells with a cumulative production potential of approximately 120 MMSCFD, against the allocation of 222 MMSCFD. Additionally, seismic operations are set to commence post-monsoon in both the Indus and Makran offshore areas, further extending the company's exploration efforts.

The HRL Pressure Enhancement Facilities project is on schedule, with a CO2 injection targeted for fiscal years 2027 to 2028. In another significant development, the Islamabad data center, built through Mari's subsidiary Sky47, was completed within 12 months, surpassing the typical 18-month timeline for such projects.

The Federal Government has renewed the Mari Field lease, extending it until 2065, ensuring long-term operational stability for the company. Moreover, financing for the GHG Emissions Mitigation Limited, a joint venture with Ghani Chemical Industries Limited, has been finalized with Habib Bank Limited. The plant delivery is anticipated within 7 to 8 months, with commissioning expected 15 to 18 months after the issuance of the Letter of Credit.