Marie Energy Limited has announced the acquisition of 65 % working interest and operating in the Peshawar Block, Khyber Pakhtunkhwa, from the Hycarback American Energy Inc., which has identified a significant extension of the company’s upstream portfolio.
The Pakistan Stock Exchange’s contract on Tuesday was formally formally made through a form out agreement between the two companies. The transaction is still subject to disciplinary approval, implementation of the actions of the assignment with the government and other necessary formal skills.
With this move, Marie will take over as the operator of the Peshawar Block, and develop its strategy to expand its strategy in American areas and promote indigenous hydrocarbon search and development. The company said the acquisition indicates the commitment to support Pakistan’s energy safety by increasing domestic search activities.
“This transaction spreads across the country to potential areas of the beach, supporting indigenous hydrocarbon research and development activities and cooperating in Pakistan’s energy by strengthening its upstream portfolio and strengthening its upstream portfolio and contributing to Pakistan’s energy.