Islamabad, Feb 3: Ghani Chemical Industries Limited (GCIL), Mari Energies Limited (formerly Mari Petroleum Company Limited), and Oil and Gas Development Company Limited (OGDC) have announced a significant collaboration through a Gas Sales & Purchase Agreement (GSPA). This landmark deal, revealed in a stock filing on Monday, will secure the supply of 3 million standard cubic feet per day (MMSCFD) of natural gas during the Extended Well Testing (EWT) period from the Maiwand-X1 discovery in Block-28, located in District Kohlu, Baluchistan.
The gas supply from this agreement is poised to bring substantial operational benefits to GCIL, driving down energy costs significantly. By securing a steady and reliable source of natural gas, GCIL aims to optimize its energy efficiency, a critical factor for enhancing its overall production and profitability. Furthermore, this agreement will enable GCIL to market and sell the gas to industrial units across Pakistan, opening up new revenue streams and business opportunities.
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In line with the agreement, GCIL also plans to set up its own gas processing facility in the region. This facility will be pivotal in processing the gas before it is sold to industrial customers, ensuring that GCIL can offer high-quality gas to meet market demands. The move will also help the company maintain greater control over the supply chain, further increasing its competitive advantage in the sector.
With the expected revenue generation from gas sales, GCIL anticipates a substantial boost to its financial performance. The company’s topline is projected to grow by over Rs. 3.5 billion annually, providing a strong foundation for future growth. The agreement not only strengthens GCIL’s position in the energy market but also demonstrates its commitment to sustainable and cost-effective energy solutions for Pakistan’s industrial sector.
This strategic partnership between GCIL, Mari Energies, and OGDC marks a critical step in the development of Pakistan’s natural gas infrastructure, with long-term benefits for all stakeholders involved. As the country continues to explore and tap into its energy resources, this collaboration is expected to serve as a model for future ventures in the energy sector.
