CONDENSED INTERIM

FINANCIAL STATEMENTS (Un-audited)

For The Six Months Period Ended
December 31, 2024
 COMPANY
IINFORMATION
Head Office External Auditors
21- Mauve Area, 3rd Road, G-10/4 A.F. Ferguson & Co., Chartered Accountants
P.O. Box 1614, Islamabad 44000 A member firm of PWC network
Tel: 051-111-410-410, 051-8092200 74- East 2nd Floor, Blue Area, Jinnah Avenue
Fax: 051-2352859 P.O. Box 1614, Islamabad-44000, Pakistan
Email: [email protected] Tel: 051-2273457-60
Email: [email protected]
Field Office Daharki Web: www.pwc.com/pk
Daharki, District Ghotki
Tel: 0723-111-410-410, Shares Registrar
0723-660403-30 M/s Corplink (Pvt) Limited
Fax: 0723-660402 Wings Arcade, 1-K Commercial
Model Town, Lahore
Karachi Office Tel: 042-35916719, 042-35916714
D-87, Block 4, Kehkashan, Clifton Email: [email protected]
P.O. Box 3887, Karachi -75600
Tel: 021-111-410-410 Legal Advisor
Fax: 021-35870273 Barrister Panni Law Associates
House No. 145, Streeto t No. 48
Quetta Office I- Ali Plaza, 4th
F11/3, Islamabad Floor, 1-E, Jinnah Av
lue Area, Islamabad enue
26, Survey-31, Defence Officers Tel : 051-2856086-88
Housing Scheme, Airport Road, Quetta. el: 051-2825632
Tel: 081-5/21052, 2864085, 2839790
Fax: 081-2834465
Regional Office KP
House No. 94/B Street No. 03
Phase 1, Bannu Township, Bannu
Tel: +928-633612
Bankers Standard Chartered Bank
Bankers
Allied Bank Limited Meezan Bank Limited
Allied Bank Limited Standard Chartered Bank
Askari Bank Limited Bank Islami Pakistan
Askari Bank Limited Meezan Bank Limited
Bank Alfalah JS Bank Limited
BankLimited
Alfalah Limited Bank Islami Pakistan
Habib Bank Limited Dubai Islamic Bank Limited
Habib Bank Limited JS Bank Limited
National National
Bank of Pakistan Faysal Bank Limited
Bank of Pakistan Dubai Islamic Bank Limited
United Bank Limited Habib Metropolitan Bank Limited
United Bank Limited Faysal Bank Limited
MCB BankMetropolitan
Habib Limited Bank Limited
Al-Baraka Bank Limited
Al-Baraka Bank Limited
Bank of Punjab
Bank of Punjab MCB Bank Limited

Registration, NTN and GST Numbers

Registration Number 00012471
National Tax Number 1414673-8
GST No. 07-01-2710-039-73
Symbol on Pakistan Stock Exchange MARI

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 01

 BOARD OF DIRECTORS 03
TABLE OF CONTENTS

COMMITTEES OF THE BOARD 04

DIRECTORS’ REVIEW 05
AUDITOR‘S REVIEW REPORT 13
CONDENSED INTERIM FINANCIAL STATEMENTS 14 - 30
Statement of Financial Position 14
Statement of Profit or Loss 15
Statement of Comprehensive Income 16
Statement of Changes in Equity 17
Statement of Cash Flows 18
Notes to the Interim Financial Statements 19
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 31 - 46
Statement of Financial Position 31
Statement of Profit or Loss 32
Statement of Comprehensive Income 33
Statement of Changes in Equity 34
Statement of Cash Flows 35
Notes to the Interim Financial Statements 36
DIRECTORS’ REVIEW IN URDU 47

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 02

 BOARD OF DIRECTORS
1 Lt Gen Anwar Ali Hyder HI(M) (Retd)
Chairman, Non-Executive Director
2 Mr. Syed Bakhtiyar Kazmi
Non-Executive Director
3 Mr. Mazhar Abbas Hasnani
Non-Executive Director
4 Mr. Faheem Haider
Managing Director/CEO, Executive Director
5 Mr. Momin Agha
Non-Executive Director
6 Mr. Muhammad Ramzan
Non-Executive Director
7 Mr. Ahmed Hayat Lak
Non-Executive Director
8 Mr. Muhammad Aamir Salim
Non-Executive Director
9 Mr. Adnan Afridi
Non-Executive Independent Director
10 Mr. Abid Hasan
Non-Executive Independent Director
11 Ms. Seema Adil
Non-Executive Independent Director

Mr. Nabeel Rasheed

Chief Financial Officer
Brig Sumair Ashraf Sheikh (Retd)
Company Secretary

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 03

 COMMITTEES OF THE BOARD

AUDIT COMMITTEE
Director Designation
Mr. Abid Niaz Hasan Chairman
Mr. Syed Bakhtiyar Kazmi Member
Mr. Momin Agha Member
Mr. Ahmed Hayat Lak Member

HR&R COMMITTEE
Director Designation
Mr. Adnan Afridi Chairman
Mr. Mazhar Abbas Hasnani Member
Mr. Ahmed Hayat Lak Member
Mr. Muhammad Ramzan Member

TECHNICAL COMMITTEE
Director Designation
Mr. Mazhar Abbas Hasnani Chairman
Mr. Momin Agha Member
Mr. Ahmed Hayat Lak Member
Ms. Seema Adil Member

INVESTMENT COMMITTEE
Director Designation
Mr. Syed Bakhtiyar Kazmi Chairman
Mr. Adnan Afridi Member
Mr. Muhammad Ramzan Member
Mr. Muhammad Aamir Salim Member

ENVIRONMENT, SOCIAL & GOVERNANCE COMMITTEE

Director Designation
Mr.
Ms. Abid
SeemaHasan
Adil Chairman
Mr. Adnan Afridi
Abid Niaz Hasan Member
Mr. Momin Agha Member
Mr. Muhammad Aamir Salim Member
Ms. Seema Adil

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 04

 MARI ENERGIES LIMITED
(Formerly Mari Petroleum Company Limited)
DIRECTORS’ REVIEW

It is with great pleasure that we inform our valued shareholders of a significant development
in the history of the Company. Following the approval granted by the shareholders and the
Registrar of Companies, the name of the Company has officially been changed to Mari
Energies Limited (“Mari or the Company”). The Certificate of Incorporation reflecting the
change in name has been duly issued by the Registrar.

This milestone marks an important chapter in the Company's journey, signaling not only a
new identity but also a reaffirmation of our commitment towards progress, innovation and
sustainability. The new name, Mari Energies Limited, reflects the Company’s evolving
strategic vision and its preparedness for positioning itself for future growth. It positions us
strongly in the energy sector, aligning with our expanding horizons in other growth areas in
an increasingly competitive and dynamic world.

In conjunction with the Company’s name change, we are pleased to present our financial
review report and the condensed interim financial statements for the six-month period ended
December 31, 2024.

Key Highlights:

Pakistan Credit Rating Agency (PACRA) through assigning a AAA (Long Term) and A1+
(Short Term) rating has affirmed strong operational and financial position of the Company.
Sales volumes remained steady, with a slight dip attributable to delay in startup of production
from Shewa and less offtake by SNGPL due to higher pressure in the transmission network
driven by RLNG diversion.
Net sales declined mainly due to lower production and applicable prices; net profit for the 1st
half of the year stands at Rs 30.3 billion, compared to Rs 37.5 billion previously.
Two HRL horizontal wells, three Ghazij development wells, and one Shawal appraisal well
were drilled, completed and put on production.
Mari Deep-23 well was completed to improve the gas recovery from Goru B reservoir.
Jhim-East X-1 well commenced gas production through Sujawal gas processing plant in the
last week of December 2024.
GSAs with fertilizer customers and a Term Sheet with Engro (base plant) were extended till
October 2029.
Mineral exploration continues in Chagai, Balochistan. Concurrently, the Company is
exploring potential joint ventures with local and international companies to enhance
collaboration and further develop the region’s mining potential. Various studies and site visits
have been completed and it is expected that initial exploration drilling would start by mid of
February 2025.
Mari Technologies Limited is a wholly owned subsidiary, and Sky47 Limited, majority owned
project company by Mari Technologies have been incorporated. Sky47 is tasked to set up large
scale data centers in major cities of the country.
The final cash dividend of Rs 134 (1,340%) per share and 800% bonus shares for FY 2023-24
were distributed.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 05

 On December 16, 2024, the Company achieved a significant milestone by becoming the largest
company by market capitalization on the PSX, surpassing PKR 1 trillion and reaching
approximately US$ 3.87 billion.
MoUs with Bakhabar Kissan and Special Talent Exchange Program were signed for social
investment, sustainable development and inclusiveness.
Mari has won various awards for CSR, governance, corporate and sustainability reporting, and
management practices.

Operational Environment and Key Challenges:

Security Situation: The security situation in the Khyber Pakhtunkhwa (KP) and Balochistan
regions remains a critical factor influencing the Company’s operations. These regions, which are
integral to the Company’s strategic initiatives and project expansion, present security challenges
that require careful management to ensure the safety of assets, personnel, and operations.

In response to these challenges, the Company has implemented a robust security framework aimed
at minimizing risks and protecting its operations. The Company maintains a close and proactive
liaison with local law enforcement agencies (LEAs), ensuring that security measures are
continuously updated in alignment with the evolving situation.

Trade Debts:

The Company has experienced a reversal in the buildup of receivables, with recoveries from Sui
Northern Gas Pipelines Limited (SNGPL) showing significant improvement. This progress is
largely due to the increase in consumer prices, which has facilitated better cash flow for SNGPL
and enhanced the Company’s ability to collect outstanding amounts.

Health, Safety, and Environment (HSE):

The Company fosters a culture of safety, sustainability and corporate responsibility across its
operations in line with its commitment to ESG with completing 8.86 million manhours. The
Company recorded a total of 28,006 training man-hours and conducted around 1,400 HSEQ
training sessions aimed at enhancing the knowledge and skills of employees across various safety
and operational aspects. Additionally, 416 Crisis & Emergency Drills were executed, ensuring
readiness in responding to unforeseen incidents and strengthening emergency response
capabilities.

The Company has made substantial progress in addressing process safety. The Company is in the
process of implementing recommendations provided by DuPont Sustainable Solutions following
their risk-based process safety management assessment. As part of this effort, HAZOP (Hazard
and Operability Studies) were successfully completed at four locations, helping identify potential
risks and enhance the safety framework. These assessments are critical in ensuring operational
and process safety, mitigating risks, and reducing the likelihood of HSE (Health, Safety, and
Environmental) incidents.

The Company continues its efforts in climate-positive initiatives and sustainability efforts by
signing a Memorandum of Understanding (MoU) with the National Disaster Risk Management
Fund to promote climate-resilient practices.

An ESG Working Group is actively working to align the Company’s integrated reporting
framework with global Sustainable Development Goals (SDGs) and ESG principles.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 06

 The Bureau of Aircraft Safety Investigation is conducting a detailed investigation on tragic
helicopter accident at the Shewa site on 28th September 2024, and the Company is providing full
cooperation to the authorities to support the inquiry.

Hydrocarbon Sales:

The hydrocarbon sales during the period are given below:

Increase /
(decrease)
Period ended December 31
Cumulative
2024 2023
Cumulative Per day Cumulative Per day
Gas (MMSCF)
Mari Field 143,675 781 145,783 792 -1.45%
Other Fields 3,003 16 2,982 16 0.71%
146,678 797 148,765 808 -1.40%
Crude oil (BBLs)
Mari Field 24,777 135 25,079 136 -1.20%
Other Fields 201,039 1,093 194,616 1,058 3.30%
225,816 1,228 219,695 1,194 2.79%

Total Net Sales in 19.55 106,250 19.81

107,663 -1.31%
BOEs Million Million

The Company has faced significant challenges in its sales volumes due to several external factors
during the year. These challenges have primarily stemmed from unplanned emergency shutdowns
and low offtake by fertilizer and power sector customers, and frequent curtailments by distribution
companies and delay in start up of production from Shewa.

The Company through efficient strategies and optimizations, proactive coordination with
customers and taking proactive steps is committed to minimizing the adverse effects of external
challenges on its sales volumes.

Financial Performance:

Six-months period ended

December 31 Increase /
Description
(Decrease)
2024 2023
(Rs. in Million)
Net Sales 86,652 93,745 (7.57%)
Profit Before Tax 44,036 62,698 (29.76%)
Income Tax (13,640) (25,193) (45.86%)
Net Profit 30,396 37,505 (18.95%)

EPS (Rs. Per Share) - Restated 25.32 31.24 (18.95%)

(Restated)

The Company experienced a decline in net sales compared to the previous period, primarily due
to lower production, lower oil prices and a more stable Rupee against the US Dollar.
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 07
 Profitability was further impacted by the introduction of a 15% “additional wellhead charge” on
sales from the Mari field (effective November 11, 2024) following the Mari D&P lease renewal.
Depreciation and amortization also increased due to the expansion of production facilities, more
wells and also due to ZS-5 being plugged and abandoned. Additionally, higher exploration and
prospecting expenditures as compared to the corresponding period were incurred, reflecting
investments to strengthen the Company’s resource base, improve reserves replacement, and
support long-term growth.

Drilling Performance:
The Company has made significant progress in its drilling activities:
Spinwam-1 Exploratory Well: Drilling is currently in progress in the Waziristan Block as
part of the exploration efforts.
Ghazij Phase-I FDP: The development wells Ghazij-6, Ghazij-7, and Ghazij-9 were
successfully completed and tested, producing gas at rates of 6 MMscfd, 12 MMscfd, and
8 MMscfd respectively.
Shawal Appraisal: Shawal-2 was successfully completed, with Shawal-1 and Shawal-2
now commissioned. Shawal-1 produced 5 MMscfd of gas and 100-200 BOPD, while
Shawal-2 produced 9 MMscfd of gas.
HRL Reservoir: The drilling of Mari-125H and Mari-126H was successfully completed,
each producing around 13 MMscfd, completing Phase-I of horizontal well drilling,
bringing the total number of horizontal wells to five.
Mari Deep-23: Drilled and completed in the Goru B reservoir, Mari Deep-23 was tested
at ~18 MMscfd, enhancing gas recovery from the eastern compartment. A water disposal
well was also put into operation.
Bhitai-6 Well: Drilling of Bhitai-6 in the Mari Field commenced in December 2024 to
boost gas recovery from SUL/SML reservoirs.
ZS-5 Well: The ZS-5 well in Zargun D&PL was plugged and abandoned.
Pateji X-1 (Shah Bandar Block): The Pateji X-1 well was successfully drilled and
completed as a gas producer. Testing revealed C-sands with 12.4 MMscfd of gas and 196
BOPD of condensate, while D-sands tested at 11.7 MMscfd of gas and 198 BOPD of
condensate.
These drilling activities demonstrate the Company’s commitment to expanding its resource
base and enhancing production capabilities through strategic exploration and development
projects.

Significant Development Projects:

Process Operations Management: A five-year plan has been chalked out for carrying out Cyclic
HAZOP workshops for all Company’s assets aimed at enhancing process safety and operational
reliability. The first phase of this initiative was successfully completed during the period focusing
on four gas production and processing facilities i.e. MDCPF, CMF-I, CMF-II & Sujawal. A
comprehensive action plan will be developed based on safety risk categorization which will
prioritize the implementation of the recommendations and action items at each facility.

Sachal Gas Processing Complex (SGPC) successfully completed its Annual Turnaround (ATA)
ahead of schedule. Key activities included modifications to improve operational flexibility,

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 08

 safety, and efficiency, along with inspections and membrane replacements thus depicting the
commitment of maintaining and optimizing plant performance.

Early Production Facilities (EPF) at Waziristan Block: The Company has diligently pursued
the installation and commissioning of the Shewa EPF. Safety review and plant testing were
successfully conducted in February 2024 and after multiple delays, the SNGPL pipeline was
completed in August 2024. The last remaining work on the pipeline is ongoing with an aim to
complete it asap. The Company has also finalized the Declaration of Commerciality for the
discovery for onward submission to the Regulator while working on full field development plan
in parallel.

HRL Pressure Enhancement Facilities (PEF) Project: Phase-I (pipeline debottlenecking) of

the PEF project is expected to be completed in the current financial year. The initial scope has
been finalized, and the extended scope is under construction. In Phase-II, fertilizer customers have
placed orders for all nodal compressors, and detailed engineering, including technical studies, is
in progress. For O&M services, the scope of work has been finalized with the fertilizer customers.

Commissioning of Jhim East X-1: The Jhim East X-1 well began its first gas injection into the
system through the Sujawal Gas Processing Facility in the last week of December 2024. This
followed successful joint metering calibration and completion of all safety prerequisites.
Currently, 10 MMSCFD of gas is being supplied, while continuously monitoring operational
parameters to ensure safety and efficiency.

Offshore Block-5 (UAE): Pakistan International Oil Limited (PIOL) is the Operator of Block 5.
Drilling campaign is in progress, which includes drilling of both appraisal and exploratory wells.

Mari Technologies Limited (MariTechnologies):

The Company has successfully incorporated Mari Technologies Limited as a wholly owned
subsidiary to expand its reach into new technological domains, including data centers, artificial
intelligence (AI), cloud computing, and other new technologies including petroleum and mining
sectors. With the Company’s financial strength and technical expertise, MariTechnologies is
positioned to make significant investments in digital infrastructure to support the evolving
demands of the digital economy.

In a strategic partnership with other shareholders, MariTechnologies has also launched SKY47
Limited (Sky47), in which MariTechnologies holds a 60% stake and retains management control.
Sky47 is dedicated to developing Tier III and Tier IV certified data centers in Pakistan, responding
to the increasing demand for secure and scalable data management services in the region. This
initiative aligns with the growing need for robust digital infrastructure to support enterprise-level
operations and data storage solutions.

Oil & Gas Decarbonization Charter Participation During COP-28: Being a signatory of
“Oil & Gas Decarbonization Charter”, the Company is working closely with global oil & gas
companies to collaborate towards decarbonization initiatives for minimizing methane and
overall GHG emissions.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 09

 Seismic and Gravity & Magnetic (G&M) Projects:

Sr No.
Seismic and G&M Projects Operator Status
1. Wali West G&M MariEnergies Completed
2. Peshawar East 2D Seismic MariEnergies Completed
3. Peshawar East G&M MariEnergies Completed
4. Wali West 2D Seismic MariEnergies In progress
5. Sharan 2D Seismic MariEnergies In progress
6. Kalat West G&M PPL Completed
7. Killa Saifullah 2D Seismic OGDCL In progress
8. North Dhurnal 3D Seismic POL In progress
9. Kalchas South 2D (Seismic) UEPL In progress

Mineral Exploration: The Company is actively pursuing mineral exploration in Chagai district,
Balochistan, under exploration licenses EL-186, EL-322, and EL-323. The exploration activities
include geological and geophysical sampling, as well as license-specific studies to develop a
comprehensive exploration plan leading to drilling activities. The Company is exploring joint
ventures with leading local and international mining companies with the aim to enhance
collaboration and leverage expertise to unlock the mining potential of the region.

Corporate Social Responsibility:

The Company is committed to fulfilling its CSR responsibilities by investing in community
driven projects that focus on infrastructure, healthcare, education, and environmental
protection. Beyond meeting its regulatory obligations, the Company invests in voluntary
initiatives for sustainable development, skills training, food security, and access to education
and healthcare to strengthen local economies, foster stakeholder relationships, and create a
lasting positive legacy.

Mari Field Daharki CSR Program: the Company is executing several projects/schemes
under its CSR initiatives, including infrastructure development (roads, health centers, and
schools), clean water access, free education and healthcare.

Balochistan CSR Program: Under the Company’s Gharonda Program, 30 out of 45 planned
houses have been rebuilt for families affected by floods in Abegum and Mach, while the remaining
houses are under construction.

Waziristan CSR Program: As part of the Waziristan CSR Program, a cohort of 100 students
has successfully completed training through the National Logistics Cell. However, due to the
prevailing security situation in the area, ongoing projects and programs are currently on hold.
Resumption of activities is being evaluated in line with the security situation, ensuring the
safety of all involved.

Strategic Partnerships: The Company has signed MoUs with Bakhabar Kissan and Special
Talent Exchange Program to promote social investment, sustainable development and
disability inclusiveness, in alignment with multiple UN Sustainable Development Goals.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 10

 Credit Rating:
We are pleased to announce that the Pakistan Credit Rating Agency (PACRA) has affirmed the
Company’s strong operational and financial positioning by assigning it a AAA (Long Term) and
A1+ (Short Term) credit rating.
These high ratings reflect the Company’s robust financial health, sound operational practices, and
strong ability to meet its financial obligations. The AAA (Long Term) rating signifies the
Company’s exceptional capacity to meet long-term financial commitments, while the A1+ (Short
Term) rating underscores the Company’s superior short-term liquidity and creditworthiness.
The ratings serve as a testament to the stability and strength of our financial operations, positioning
us favorably in the marketplace as we continue to pursue growth and long-term value creation.

Awards and Recognitions:

• Mari secured the 1st Position at the Corporate Philanthropy Awards arranged by the Pakistan
Center for Philanthropy on November 19, 2024.
• Mari was ranked at No. 08 amongst the Top 25 Companies on Pakistan Stock Exchange for
the Year 2023, on November 15, 2024.
• Mari received the Certificate of Excellence for the “Best Management Practices” in Oil & Gas
Sector, at the 39th Corporate Excellence Awards Ceremony held on October 23, 2024.
• Mari Annual Report 2023 won the 1st Position in the Fuel & Energy Category, while its
inaugural Sustainability Report won overall 4th Position at the Best Corporate and
Sustainability Report Awards, held on October 18, 2024.
• Mari was awarded the "Corporate Governance Progression Award" at the inaugural Directors'
Summit 2024, hosted on September 12, 2024, by PICG.

Outlook:
The Company is fully committed towards its long-term vision and growth strategy, which is
focused on strengthening its role in securing energy and food security for the country. Its
diversification into mining and technology is a key complement to its overall strategy,
positioning the company to achieve long-term growth and sustainability.

In the current year, several exploration and appraisal wells have either been completed or are
planned in various operated and partner-operated blocks. These efforts are part of the
Company’s ongoing initiatives to expand its energy footprint and ensure continuous
development. Additionally, a number of seismic data acquisition projects are in progress to
assess the hydrocarbon potential, which will support the maturation of prospective areas.

The Company is also undertaking numerous activities aimed at further evaluating exploration
and producing fields/blocks. These initiatives focus on enhancing production, improving
reserve recoverability, and extending the production plateau of existing fields, which are
critical for optimizing resource utilization and ensuring the Company’s long-term operational
efficiency and success in the energy sector.

The Company’s priorities in the short to medium term include the following:
• Full field development of Ghazij and Shewa reservoirs.
• Surface and subsurface activities for execution of HRL PEF Project in Mari Field.
• Start of target drilling in the mining exploration licenses.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 11

 • Building secure and efficient infrastructure for large scale data storage and processing
center, ensuring data privacy and integrity.

Dividend and Bonus Shares:

The final cash dividend for FY 2023-24 of Rs. 134 (1,340%) and 800% bonus shares were also
distributed to the shareholders during the period.

Tribute to Law Enforcement Agencies (LEAs):

We deeply value the unwavering commitment and exceptional professionalism demonstrated
by the Law Enforcement Agencies in safeguarding our infrastructure, personnel, and
operations. Their vigilance and readiness are crucial in fostering confidence among our field
teams and ensuring the continued stability and resilience of the energy sector.

Acknowledgment:

The Board of Directors would like to commend all employees of the Company for their
dedication and commitment to delivering on various significant projects of national
importance.

The Board also wishes to express its appreciation for the continued assistance and
cooperation received from Federal and Provincial Governments, Local Administrations, and
various departments of the Federal Government especially the Ministry of Energy (Petroleum
Division), Ministry of Finance, OGRA, DGs of (Petroleum Concessions, Oil and Gas), Fauji
Foundation, OGDCL, FBR, LEAs, suppliers, JV partners, and all other stakeholders. For and
on behalf of the Board

Faheem Haider Lt. Gen. Anwar Ali Hyder, HI (M), (Retd)

MANAGING DIRECTOR / CEO CHAIRMAN

Islamabad
January 27, 2025

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 12

13
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 14
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 15
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 16
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 17
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 18
FOR THE SIX
THREE
MONTHS
MONTHS
PERIOD
PERIOD
ENDED
ENDED
DECEMBER
SEPTEMBER
31 , 30
2024
, 2024 19
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 20
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 21
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 22
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 23
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 24
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 25
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 26
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 27
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 28
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 29
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 30
 MARI ENERGIES LIMITED
(FORMERLY, MARI PETROLEUM COMPANY LIMITED)
CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31, 2024
(Un-Audited) (Audited) (Un-Audited) (Audited)
31.12.2024 30.06.2024 31.12.2024 30.06.2024
Note (Rupees in thousand) Note (Rupees in thousand)
EQUITY AND LIABILITIES ASSETS

SHARE CAPITAL AND RESERVES NON CURRENT ASSETS

Share capital 4 12,006,225 1,334,025 Property, plant and equipment 8 99,348,774 97,355,350
Other reserves 6,584,857 17,192,508 Development and production assets 9 42,855,557 35,118,195
Unappropriated profit 218,889,527 206,381,133 Exploration and evaluation assets 10 28,414,918 25,532,040
237,480,609 224,907,666 Long term investments 11 12,260,051 12,500,987
Long term loans and advances 57,484 48,967
Non-controlling interest 1,983,999 - Long term deposits and prepayments 195,603 183,741

TOTAL EQUITY 239,464,608 224,907,666 183,132,387 170,739,280

NON CURRENT LIABILITIES

Long term financing 552,780 593,369

Lease Liabilities 160,027 -
Deferred liabilities 5 31,535,413 27,445,015
Deferred income tax liability 36,439,905 30,679,757 CURRENT ASSETS
68,688,125 58,718,141
Stores and spares 9,791,008 8,620,579
CURRENT LIABILITIES Trade debts 12 74,663,265 81,073,374
Short term loans and advances 13 10,787,196 9,529,056
Trade and other payables 6 43,921,496 49,914,128 Short term prepayments 854,447 585,974
Current portion of lease liabilities 2,340 - Other receivables 6,847,925 736,363
Current portion of long term financing 147,570 149,293 Short term investments 35,417,249 22,676,219
Unclaimed dividend 704,529 570,696 Interest accrued 830,392 401,229
Provision for income tax 14,497,831 12,312,326 Cash and bank balances 45,102,630 52,210,176
59,273,766 62,946,443 184,294,112 175,832,970
TOTAL LIABILITIES 127,961,891 121,664,584

CONTINGENCIES AND COMMITMENTS 7

TOTAL EQUITY AND LIABILITIES 367,426,499 346,572,250 TOTAL ASSETS 367,426,499 346,572,250

The annexed notes 1 to 21 form an integral part of these condensed interim consolidated financial statements.

Nabeel Rasheed Faheem Haider Abid Hasan Lt Gen Anwar Ali Hyder
Chief Financial Officer Managing Director / CEO Director HI(M), (Retd)
Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 31

 MARI ENERGIES LIMITED
(FORMERLY, MARI PETROLEUM COMPANY LIMITED)
CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UN-AUDITED)
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2024

Three months period ended Six months period ended

31.12.2024 31.12.2023 31.12.2024 31.12.2023
Note (Rupees in thousand) (Rupees in thousand)

Gross sales 46,669,238 51,110,272 97,872,800 105,328,954

General sales tax (4,784,611) (5,025,286) (10,135,151) (10,482,237)
Excise duty (530,220) (545,745) (1,086,011) (1,101,746)
(5,314,831) (5,571,031) (11,221,162) (11,583,983)
Net sales 14 41,354,407 45,539,241 86,651,638 93,744,971

Royalty and additional wellhead charge 15 (8,007,666) (5,756,315) (13,529,267) (11,746,951)

Operating and administrative expenses (15,148,753) (7,022,241) (23,215,838) (14,639,881)
Exploration and prospecting expenditure (3,719,905) (1,465,443) (6,720,959) (3,256,247)
Finance cost (834,847) (702,489) (1,669,429) (1,433,858)
Other charges (1,116,517) (2,137,340) (3,173,759) (4,388,094)
(28,827,688) (17,083,828) (48,309,252) (35,465,031)
12,526,719 28,455,413 38,342,386 58,279,940

Other income 26,075 796,411 145,387 916,178

Finance income 2,492,887 1,605,907 5,869,029 4,098,116
Share of loss in associate 11.1 (8,189) (356,051) (217,375) (596,595)

Profit before taxation 15,037,492 30,501,680 44,139,427 62,697,639

Provision for income tax 16 (3,787,979) (12,140,593) (13,688,900) (25,193,116)
Profit for the period 11,249,513 18,361,087 30,450,527 37,504,523

Attributable to:
Equity holders of Mari Energies Limited 11,265,514 18,361,087 30,466,528 37,504,523
Non-controlling interest (16,001) - (16,001) -
11,249,513 18,361,087 30,450,527 37,504,523

Earnings per share - basic and diluted (Restated) (Restated)

Earnings per ordinary share (Rupees) 17 9.38 15.29 25.38 31.24

The annexed notes 1 to 21 form an integral part of these condensed interim consolidated financial statements.

Nabeel Rasheed Faheem Haider Abid Hasan Lt Gen Anwar Ali Hyder
Chief Financial Officer Managing Director / CEO Director HI(M), (Retd)
Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 32

 MARI ENERGIES LIMITED
(FORMERLY, MARI PETROLEUM COMPANY LIMITED)
CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2024

17. Three months period ended Six months period ended

31.12.2024 31.12.2023 31.12.2024 31.12.2023
Note (Rupees in thousand) (Rupees in thousand)

Profit for the period 11,249,513 18,361,087 30,450,527 37,504,523

Other comprehensive income:

Items that will be subsequently reclassified

to the profit or loss:

Effect of translation of investment in a

foreign associated company 11.1 10,655 136,983 (17,650) 186,262

Total comprehensive income for the period 11,260,168 18,498,070 30,432,877 37,690,785

Attributable to:

Equity holders of Mari Energies Limited 11,276,169 18,498,070 30,448,878 37,690,785

Non-controlling interest (16,001) - (16,001) -
11,260,168 18,498,070 30,432,877 37,690,785

The annexed notes 1 to 21 form an integral part of these condensed interim consolidated financial statements.

Nabeel Rasheed Faheem Haider Abid Hasan Lt Gen Anwar Ali Hyder
Chief Financial Officer Managing Director / CEO Director
HI(M), (Retd)
Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 33

MARI ENERGIES LIMITED
(FORMERLY, MARI PETROLEUM COMPANY LIMITED)
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2024

Other reserves
Capital Foreign currency
Self insurance Unappropriated Non-controlling
Share capital redemption translation Total Total equity
reserve profit interest
reserve fund reserve
(Rupees in thousand)

Balance as at July 01, 2023 (Audited) 1,334,025 10,590,001 4,600,000 2,032,066 149,870,248 168,426,340 - 168,426,340

Total comprehensive income for the period:

Profit for the period - - - - 37,504,523 37,504,523 - 37,504,523
Other comprehensive income - - - 186,262 - 186,262 186,262
- - - 186,262 37,504,523 37,690,785 - 37,690,785
Final cash dividend for the year ended June 30, 2023 @ Rs 58.00 per share * - - - - (7,737,345) (7,737,345) - (7,737,345)

Balance as at December 31, 2023 (Un-Audited) 1,334,025 10,590,001 4,600,000 2,218,328 179,637,426 198,379,780 - 198,379,780

Total comprehensive income for the period:

Profit for the period - - - - 39,783,534 39,783,534 - 39,783,534
Other comprehensive income - - - (215,821) 33,618 (182,203) - (182,203)
- - - (215,821) 39,817,152 39,601,331 - 39,601,331

Interim cash dividend for the year ended June 30, 2024 @ Rs 98.00 per share * - - - - (13,073,445) (13,073,445) - (13,073,445)
Balance as at June 30, 2024 (Audited) 1,334,025 10,590,001 4,600,000 2,002,507 206,381,133 224,907,666 - 224,907,666

Total comprehensive income for the period:

Profit / (loss) for the period - - - - 30,466,528 30,466,528 (16,001) 30,450,527
Other comprehensive income - - - (17,650) - (17,650) (17,650)
- - - (17,650) 30,466,528 30,448,878 (16,001) 30,432,877
Issuance of Bonus shares* 10,672,200 (10,590,001) - - (82,199) - - -
Share capital of a subsidiary, SKY47 Limited, subscribed by non-controlling interest - - - - - - 2,000,000 2,000,000
Final cash dividend for the year ended June 30, 2024 @ Rs 134.00 per share * - - - - (17,875,935) (17,875,935) - (17,875,935)
Balance as at December 31, 2024 (Un-Audited) 12,006,225 - 4,600,000 1,984,857 218,889,527 237,480,609 1,983,999 239,464,608

* Distribution to owners - recorded directly in equity

The annexed notes 1 to 21 form an integral part of these condensed interim consolidated financial statements.

Nabeel Rasheed Faheem Haider Abid Hasan Lt Gen Anwar Ali Hyder
Chief Financial Officer Managing Director / CEO Director HI(M), (Retd)
Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 34

35
 MARI ENERGIES LIMITED
(FORMERLY, MARI PETROLEUM COMPANY LIMITED)
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL
STATEMENTS (UN-AUDITED)
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2024

1. LEGAL STATUS AND OPERATIONS

Mari Energies Limited (formerly, Mari Petroleum Company Limited) ("the Group") comprises of Mari
Energies Limited (MARI or the Holding Company) and its subsidiaries Mari Minerals (Private) Limited
(formerly, Mari Mining Company (Private) Limited) (MML), Mari Technologies Limited (MTL) and
SKY47 Limited (SKY47). SKY47 is subsidiary of Mari through MTL with sixty percent shareholding.
MARI is a public limited company incorporated in Pakistan on December 4, 1984 under the repealed
Companies Ordinance, 1984 (replaced by the Companies Act, 2017) and its shares are listed on the
Pakistan Stock Exchange Limited.

The Group, through its holding company, is principally engaged in the exploration, production, and sale
of hydrocarbons. Additionally, through its subsidiaries, the Group is involved in mineral mining
activities, data centers, cloud computing, and artificial intelligence. The registered office of MARI,
MMCL, MTL, and SKY47 is situated at 21 Mauve Area, 3rd Road, G-10/4, Islamabad.

2. BASIS OF PREPARATION

2.1 These condensed interim consolidated financial statements of the Group for the six months period ended
December 31, 2024 have been prepared in accordance with the accounting and reporting standards as
applicable in Pakistan for interim financial reporting. The accounting and reporting standards as
applicable in Pakistan for interim financial reporting comprise of International Accounting Standard
(IAS) 34 'Interim Financial Reporting', issued by the International Accounting Standards Board (IASB)
as notified under the Companies Act, 2017 and provisions of and directives issued under the Companies
Act, 2017. Where the provisions of and directives issued under the Companies Act, 2017 differ with the
requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have
been followed.
2.2 These condensed interim consolidated financial statements are unaudited and are being submitted to the
members as required under Section 237 of the Companies Act, 2017 and Rule Book of Pakistan Stock
Exchange Limited.

2.3 The disclosures in these condensed interim consolidated financial statements do not include all the
information and disclosures reported in annual audited consolidated financial statements and should
therefore be read in conjunction with the audited consolidated financial statements of the Group for the
year ended June 30, 2024.
2.4 Exemption from application of IFRS 9 'Financial Instruments'

The Securities and Exchange Commission of Pakistan (SECP) through S.R.O. 1784(I)/2024 dated
November 4, 2024 has notified that in respect of companies holding financial assets due or ultimately due
from the Government of Pakistan (GoP) in respect of circular debt, the requirements contained in IFRS 9
with respect to application of Expected Credit Losses (ECL) model shall not be applicable for financial
years ending on or before December 31, 2025, provided that such companies shall follow relevant
requirements of IAS 39 ‘Financial Instruments: Recognition and Measurement’ in respect of above
referred financial assets during the exemption period.

Consequently, the Group has not recorded impact of application of ECL model on the financial assets due
directly/ultimately from the GoP in these condensed interim consolidated financial statements.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 36

 3. ACCOUNTING POLICIES, SIGNIFICANT ACCOUNTING ESTIMATES, ASSUMPTIONS AND
JUDGEMENTS

3.1 The preparation of these condensed interim consolidated financial statements in conformity with the approved
accounting standards as applicable in Pakistan for interim financial reporting requires management to make
estimates, assumptions and apply judgments that affect the application of accounting policies and reported
amounts of assets, liabilities, income and expenses. Estimates, assumptions and judgments are continually
evaluated and are based on historical experience and other factors, including reasonable expectations of future
events. Revision to accounting estimates are recognised from the period of revision.

3.2 The accounting policies adopted in the preparation of these condensed interim consolidated financial
statements are the same as those applied in the preparation of audited consolidated financial statements for the
year ended June 30, 2024.
3.3 The estimates, assumptions and judgments made in the preparation of these condensed interim consolidated
financial statements are substantially the same as those applied in the preparation of audited consolidated
financial statements for the year ended June 30, 2024 and the management also believes that standards,
amendments to published standards and interpretations that are effective for the Group from accounting
periods beginning on or after July 1, 2024 do not have any significant effect on these condensed interim
consolidated financial statements or are not relevant to the Group.

(Un-Audited) (Audited)
31.12.2024 30.06.2024
Note (Rupees in thousand)
4. SHARE CAPITAL

Authorized capital

17,000,000,000 (June 30, 2024: 17,000,000,000) ordinary

shares of Rs 10 each 170,000,000 170,000,000

Issued, subscribed and paid up capital

24,850,007 (June 30, 2024: 24,850,007) ordinary shares of

Rs 10 each issued for cash 248,500 248,500

11,899,993 (June 30, 2024: 11,899,993) ordinary shares of

Rs 10 each issued for consideration other than cash 119,000 119,000

1,163,872,500 (June 30, 2024: 96,652,500) ordinary shares

of Rs 10 each issued as bonus shares 4.1 11,638,725 966,525

12,006,225 1,334,025

4.1 The Board of Directors of the Holding Company in its meeting held on August 8, 2024 proposed issuance of
bonus shares in ratio of eight shares for every one share held (i.e. Rs 10,672,200 thousand), which were
subsequently issued after approval of the shareholders of the Holding Company in the Annual General
Meeting held on September 24, 2024. Out of Rs 10,672,200 thousand, Rs 10,590,001 thousand have been
appropriated out of 'capital redemption reserve fund' while balance amount of Rs 82,199 thousand have been
appropriated out of 'unappropriated profit'. A portion of issued bonus shares would be released on compliance
of collection of tax in terms of the Income Tax Ordinance 2001.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 37

 (Un-Audited) (Audited)
31.12.2024 30.06.2024
Note (Rupees in thousand)
5. DEFERRED LIABILITIES

Provision for decommissioning cost 29,983,307 26,016,005

Provision for employee benefits - unfunded 1,552,106 1,429,010

31,535,413 27,445,015

6. TRADE AND OTHER PAYABLES

Creditors 1,403,464 2,103,739

Accrued liabilities 22,022,100 27,349,514
Joint operating partners 4,114,664 3,510,947
Retention money and performance bonds payable 1,044,989 1,172,628
Non-Management Gratuity Fund 28,915 -
Provident fund 72,895 -
Gas Development Surcharge (GDS) 6.1 3,696,862 2,797,620
General sales tax - 6,949
Excise duty - 153,037
Royalty and additional wellhead charge 4,279,798 824,533
Redeemable preference shares and related accrued profit 110,357 110,582
Workers' Welfare Fund 451,480 550,517
Workers' Profit Participation Fund 2,337,925 -
Deferred income 591,805 1,660,173
Others 6.2 3,766,242 9,673,889

43,921,496 49,914,128

6.1 Gas Development Surcharge (GDS) and Gas Infrastructure Development Cess (GIDC) and their related sales
tax amounting to Rs 151,170,469 thousand (June 30, 2024: Rs 153,662,149 thousand) are not reflected in
these condensed interim consolidated financial statements in accordance with the accounting guidance issued
by the Institute of Chartered Accountants of Pakistan (ICAP) through Circular no.1/2021 dated January 21,
2021, whereby, these are recorded as payables to the extent that they are received from customers and are to
be deposited with GoP as per their respective rules and regulations.

On August 13, 2020, the Supreme Court of Pakistan has decided the matter of GIDC, which has restrained the
charging of GIDC from August 1, 2020 onwards and ordered gas consumers to pay GIDC arrears due upto
July 31, 2020 in installments. The fertilizer companies have obtained stay orders against recovery from the
Sindh High Court, where the matter is subjudice.

6.2 This includes Rs 2,970,119 thousand (June 30, 2024: Rs 8,903,324 thousand) received from an end user
pursuant to an arrangement under which it has committed to fulfill certain obligations and the amounts so
received will be returned to the end user once the said amounts are received from the customer.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 38

 7. CONTINGENCIES AND COMMITMENTS

7.1 Contingencies

a) The Group is currently defending multiple cases in Pakistan relating to its routine business activities. Based
on review by legal counsel appointed for each case, it is expected that the outcomes will favor the Group.
Consequently, no provisions and/or disclosure have been made in these condensed interim consolidated
financial statements.

b) The Group has given corporate guarantees to the GoP under various Petroleum Concession Agreements
(PCAs) for the performance of obligations.

c) As part of the investment arrangement in Pakistan International Oil Limited (PIOL), a related party, each of
the consortium partners namely MARI, OGDCL, PPL and GHPL has also provided, joint and several, parent
company guarantees to ADNOC and Supreme Council for Financial and Economic Affairs Abu Dhabi, UAE,
to guarantee the obligations of PIOL.

(Un-Audited) (Audited)
31.12.2024 30.06.2024
(Rupees in thousand)
7.2 Commitments

a) Commitments for capital expenditure:

Wholly owned 7,801,982 8,856,762

Joint operations 7,425,702 8,396,785

15,227,684 17,253,547

b) The Group’s share in outstanding minimum work commitments,

other than capital commitments included in 'a' above, under various
PCAs aggregating to US$ 87.43 million (June 30, 2024: US$ 99.83
million) 24,347,874 27,843,405

c) As part of the Shareholders Agreement with the consortium partners in PIOL, the Group has committed to
invest upto US$ 100 million in PIOL during five years from August 31, 2021, out of which US$ 60 million
have been invested upto December 31, 2024 (June 30, 2024: US$ 60 million). The remaining amount of US$
40 million (equivalent Rs 11,140 million) will be invested in subsequent years / periods.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 39

 (Un-Audited) (Audited)
Six months ended Year ended
31.12.2024 30.06.2024
Note (Rupees in thousand)
8. PROPERTY, PLANT AND EQUIPMENT

Opening carrying value 97,355,350 81,736,169

Movement during the period / year:

Additions 8.2 6,356,621 22,597,199
Revision due to change in estimates of provision for
decommissioning cost - (180,092)

Net book value of disposals (26,006) (43,651)

Depreciation charge (4,337,191) (6,754,275)
1,993,424 15,619,181

Closing carrying value 99,348,774 97,355,350

8.1 Property, plant and equipment comprises:

Operating assets 65,429,868 67,649,291

Capital work in progress 14,531,321 12,585,959
Stores and spares held for capital expenditure 19,387,585 17,120,100

99,348,774 97,355,350

8.2 It includes additions amounting to Rs 275,579 thousand (year ended June 30, 2024: Rs 582,781 thousand) on
account of provision for decommissioning cost.
(Un-Audited) (Audited)
Six months ended Year ended
31.12.2024 30.06.2024
Note (Rupees in thousand)
9. DEVELOPMENT AND PRODUCTION ASSETS

Opening carrying value 35,118,195 24,992,278

Movement during the period / year:
Additions 9.1 14,033,169 14,751,300
Revision due to change in estimates of provision for
decommissioning cost - 125,518
Amortization charge (6,295,807) (4,750,901)
7,737,362 10,125,917

Closing carrying value 42,855,557 35,118,195

9.1 It includes additions amounting to Rs 1,996,332 thousand (year ended June 30, 2024: Rs 826,508 thousand)
on account of provision for decommissioning cost.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 40

 (Un-Audited) (Audited)
Six months ended Year ended
31.12.2024 30.06.2024
10. EXPLORATION AND EVALUATION ASSETS Note (Rupees in thousand)
Opening carrying value 25,532,040 15,958,410
Movement during the period / year:
Additions 10.1 2,882,878 13,846,102
Revision due to change in estimates of provision for decommissioning cost - (83,523)
Impairment losses - (4,131,965)
Cost of dry and abandoned wells - (56,984)
2,882,878 9,573,630

Closing carrying value 28,414,918 25,532,040

10.1 It includes additions amounting to Rs 68,084 thousand (year ended June 30, 2024: Rs 757,755 thousand) on
account of provision for decommissioning cost.

(Un-Audited) (Audited)
31.12.2024 30.06.2024
Note (Rupees in thousand)
11. LONG TERM INVESTMENTS

Investment in related party - associate (Un-quoted) 11.1 12,071,193 12,306,218

Term Finance Certificates (TFCs) (Quoted) 188,858 194,769
12,260,051 12,500,987

(Un-Audited) (Audited)
Six months ended Year ended
31.12.2024 30.06.2024
(Rupees in thousand)
11.1 Investment in related party - associate (Un-quoted) - at equity method

Pakistan International Oil Limited - foreign operation

Opening carrying value 12,306,218 5,530,202

Movement during the period / year:
Cost of investment - 7,089,800
Share of loss (217,375) (284,225)
Effect of translation of investment (17,650) (29,559)

Closing carrying value 12,071,193 12,306,218

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 41

 (Un-Audited) (Audited)
31.12.2024 30.06.2024
(Rupees in thousand)
12. TRADE DEBTS

Due from associated companies and related parties - considered good 69,156,342 75,469,955
Due from others - considered good 5,506,923 5,603,419

74,663,265 81,073,374

12.1 As detailed in note 6.1 to these condensed interim consolidated financial statements, GDS and GIDC amounts and their related
sales tax billed to customers but not received are not included in these condensed interim consolidated financial statements.

12.2 Due to exemption provided by SECP from application of ECL model on financial assets receivable from the GoP for financial
year ending on or before December 31, 2025, the Group has not recorded the impact of application of ECL model on trade
debts in respect of circular debt due directly/ultimately from GoP for impairment assessment.

(Un-Audited) (Audited)
31.12.2024 30.06.2024
(Rupees in thousand)
13. SHORT TERM LOANS AND ADVANCES

Considered good

Current portion of long term loans and advances 38,346 34,321

Advances to employees against expenses 181,920 319,767
Advances to suppliers, contractors and deposits for LC margin 4,245,653 2,358,435
Receivables from joint operating partners 6,095,715 5,966,539
Management Gratuity Fund 225,562 391,910
Workers' Profit Participation Fund - 458,084

10,787,196 9,529,056

Three months period ended Six months period ended

31.12.2024 31.12.2023 31.12.2024 31.12.2023
14. NET SALES Note (Rupees in thousand) (Rupees in thousand)

Product wise breakup of net sales is as follows:

Natural gas 39,797,516 43,570,119 83,199,710 90,039,466
Crude oil 1,556,891 1,969,122 3,451,928 3,705,505

41,354,407 45,539,241 86,651,638 93,744,971

15. ROYALTY AND ADDITIONAL

WELLHEAD CHARGE

Royalty 5,019,785 5,756,315 10,541,386 11,746,951

Additional wellhead charge 15.1 2,987,881 - 2,987,881 -

8,007,666 5,756,315 13,529,267 11,746,951

15.1 This represents additional 15% of wellhead value payable to the Federal Government on petroleum produced from Mari
Development and Production Lease with effect from November 11, 2024 following renewal of the said lease, in accordance
with rule 35 of the Pakistan Onshore Petroleum (Exploration and Production) Rules, 2013.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 42

 Three months period ended Six months period ended
31.12.2024 31.12.2023 31.12.2024 31.12.2023
(Rupees in thousand) (Rupees in thousand)
16. PROVISION FOR INCOME TAX

Current tax - charge for the period 2,619,374 12,123,373 7,928,752 25,179,182
Deferred tax - charge for the period 1,168,605 17,220 5,760,148 13,934
3,787,979 12,140,593 13,688,900 25,193,116

Three months period ended Six months period ended

31.12.2024 31.12.2023 31.12.2024 31.12.2023
17. EARNINGS PER SHARE - BASIC AND DILUTED

Profit for the period attributable to equity holders of the

Holding Company (Rupees in thousand) 11,265,514 18,361,087 30,466,528 37,504,523
Number of ordinary shares outstanding (in thousand) - Restated 1,200,623 1,200,623 1,200,623 1,200,623
Earnings per ordinary share (in Rupees) - Restated 9.38 15.29 25.38 31.24
There is no dilutive effect on the basic earnings per ordinary share of the Group.

Total number of shares outstanding and earnings per share for the comparative periods have been restated taking into account the effect of bonus
shares issued during the period ended December 31, 2024 as explained in note 4.1 to these condensed interim consolidated financial statements.

(Un-Audited) (Un-Audited)
31.12.2024 31.12.2023
(Rupees in thousand)
18. CASH AND CASH EQUIVALENTS

Cash and bank balances 45,102,630 57,548,147

Short term investments 35,417,249 10,130,921

80,519,879 67,679,068

19. TRANSACTIONS AND BALANCES WITH RELATED PARTIES AND ASSOCIATED COMPANIES

The related parties of the Group comprise of entities having significant influence over the Group and entities controlled by such entities,
associates, employees' retirement funds and key management personnel. Key management personnel are those persons having authority and
responsibility for planning, directing and controlling the activities of the Group. The Group considers its MD/CEO and Directors to be key
management personnel. Associated companies have been identified in accordance with the requirements of the Companies Act, 2017.
Transactions and balances with related parties and associated companies, other than below, have been disclosed in relevant notes to these
condensed interim consolidated financial statements.

The Group, in the normal course of business, pays for utilities and makes regulatory payments to entities controlled by GoP which are either
disclosed in respective notes to these condensed interim consolidated financial statements or are collectively, but not individually, significant to
these condensed interim consolidated financial statements.

Transactions for six months

period ended
Name and nature of relationship Nature of transaction 31.12.2024 31.12.2023
(Rupees in thousand)
Related parties
Entities with significant influence over
the Group
Fauji Foundation* Dividend paid 7,090,788 3,069,147
Cost recharge and other expenses 621,128 474,443
Reimbursement of expenditure incurred on behalf
of the Group 83,049 -
Oil and Gas Development Company Dividend paid 3,545,394 1,534,573
Limited (OGDCL)* Sale of stores and spares 88,666 140,876
Expenses against studies 58,751 -
Government of Pakistan (GoP) Dividend paid 3,572,781 1,546,428

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 43

 Transactions for six months
period ended
Name and nature of relationship Nature of transaction 31.12.2024 31.12.2023
(Rupees in thousand)
Entities controlled by those entities
having significant influence over the
Group
Sui Northern Gas Pipelines Limited Gas sale 33,558,797 36,185,141
Sui Southern Gas Company Limited Gas sale 3,077,410 2,836,630
Pipeline expense 85,244 88,642
Central Power Generation Company
Limited Gas sale 7,346 -
Pak Arab Refinery Company Limited Crude oil sale 47,919 506,432
Pakistan Refinery Limited Crude oil sale 134,674 93,068
Entities controlled by those entities
having significant influence over the
Group

Foundation Power Company Daharki

Limited* Gas sale 2,959,641 3,112,212
National Investment Trust Income on mutual funds 723,857 601,743
National Bank of Pakistan Interest income 48,711 43,140
Income on mutual funds 754,512 100,584
Government Holdings (Private) Limited Expenses against studies 58,751 -
Pakistan Petroleum Limited Contractual services income - 1,288,454
Sale of stores and spares 1,949 -
Expenses against studies 58,751 -
Fauji Cement Company Limited* Crude oil sale 9,533 14,868
Key management personnel
Directors Fee and reimbursable expenses 49,560 31,209
Managing Director / CEO Remuneration and allowances 152,825 117,512
Employees' retirement funds
Provident fund Company's contribution 149,354 141,985
Fauji Cement Company Limited Sale of crude 101,607 -
Associated companies by virtue of
common directorship

Askari Bank Limited Interest income 1,355,679 2,682,016

Fauji Fertilizer Company Limited Gas sale 19,723,453 20,133,048
Income against services 20,876 29,223
Pakistan Petroleum Exploration &
Production Companies Association Membership fee 2,725 1,908
Olive Technical Services Limited Purchase of services 7,921 472
Pakistan Oxygen Limited Supply of consumables - 3,514
Pakistan Mobile Communications Limited Purchase of services - 4,638

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 44

 Balance as at
Name and nature of relationship Nature of balance 31.12.2024 30.06.2024
(Rupees in thousand)
Related parties
Entities with significant influence over
the Group
Fauji Foundation* Dividend payable 299,416 239,830
Cost recharge and others 491,539 72,483
Oil and Gas Development Company Limited Dividend payable 149,709 119,916
(OGDCL)* Payable to joint operating partner 227,668 62,491
Receivable from joint operating partner 2,160,447 1,495,830
Advance against studies - 2,846
Receivable against studies 20,046 -
Entities controlled by those entities
having significant influence over the
Group
Sui Northern Gas Pipelines Limited Trade debts 58,357,096 67,732,562
Sui Southern Gas Company Limited Trade debts 7,872,069 5,177,679
Payable against pipeline expenses 57,010 28,546
Advance against studies 26,936 -
Central Power Generation Company
Limited Trade debts 2,666 1,348
Pak Arab Refinery Company Limited Trade debts 33,204 108,375
Pakistan Refinery Limited Trade debts 52,425 42,304
Foundation Power Company Daharki
Limited* Trade debts 1,013,088 592,002
Foundation Gas* Trade debts 6,072 6,072
Government Holdings (Private) Limited Receivable from joint operating partner 333,792 103,373
Advance against studies - 2,846
Receivable against studies 51,241 -
National Investment Trust Mutual funds 9,256,249 7,532,392
National Bank of Pakistan Bank balances 11,959 195,220
Mutual funds 10,523,593 5,769,081
Interest accrued 48,331 36,746
Pakistan Petroleum Limited Payable to joint operating partner 1,074,472 676,120
Receivable from joint operating partner 934,729 1,157,747
Receivable against contractual services - 65,496
Receivable against studies - 3,762
Advance against studies 101,649 -

Key management personnel

Directors Fee payable 1,800 -

Associated companies by virtue of

common directorship
Askari Bank Limited Bank balances 16,085,923 25,507,653
Interest accrued 378,769 354,993
Fauji Fertilizer Company Limited Trade debts 1,819,722 1,809,613
Advance received against services 94,241 187,471
Receivable against services 39,612 30,441
Olive Technical Services Limited Payable against services ` - 114
Pakistan Oxygen Limited Advance against supply of consumables - 6,477
Pakistan Mobile Communications Limited Payable against services - 8,670

* These entities are also associated entities by virtue of common directorship.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 45

 20. FINANCIAL RISK MANAGEMENT AND FAIR VALUE MEASUREMENT

The Group’s financial risk management objectives and policies are consistent with those disclosed in the
audited consolidated financial statements for the year ended June 30, 2024. There is no change in the nature
and corresponding hierarchies of fair value levels of financial instruments from those as disclosed in the audited
consolidated financial statements for the year ended June 30, 2024. The carrying values of financial assets and
liabilities approximate their fair values as of December 31, 2024 except for financial assets due
directly/ultimately from GoP for which ECL model has not been applied as mentioned in note 2.4 to these
condensed interim consolidated financial statements.

The Group has the following financial assets at fair value:

Level 1 Level 2 Level 3 Total

(Rupees in thousand)
December 31, 2024
Short term investments 33,414,607 - - 33,414,607
Long term investments 188,858 - - 188,858

33,603,465 - - 33,603,465

June 30, 2024

Short term investments 20,115,725 - - 20,115,725
Long term investments 194,769 - - 194,769
20,310,494 - - 20,310,494

21. GENERAL

21.1 Non-adjusting events after the statement of financial position date

The Board of Director of the Holding Company in its meeting held on January 27, 2025 has declared interim
cash dividend for the year ending June 30, 2025 of Rs _____ per share.

21.2 Revenue from major customers constitutes 96% of the total revenue during the six months period ended
December 31, 2024 (six months period ended December 31, 2023: 96%).

21.3 These condensed interim consolidated financial statements were authorized for issue by the Board of Directors
of the Holding Company on January 27, 2025.

Nabeel Rasheed Faheem Haider Abid Hasan Lt Gen Anwar Ali Hyder
Chief Financial Officer Managing Director / CEO Director HI(M), (Retd)
Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 46

 ‫�رىا���‬
‫)���رى�و��� (‬
‫ڈا��ز���ہ‬
‫� � �� �� �ى �� �س � ر� � � � � �ر� � ا� ا� �� �� �۔ ���رز اور ر�ار آف � � �� � دى �‬
‫�رى��‪� ��،‬م��� �ر � �رىا�� �)�رىا��(����د���۔�م���� �� � ��� آفا�ر�ر�‬
‫ر�ار�����رى�د���۔‬

‫���� �� �ا�ا���� ‪� ��،‬فا���� د� ����‪�،‬ت�ازىاور ��ارى �� �رے�م�ا�دہ���‬

‫�‬
‫� ۔ � �م ‪� ،‬رىا�� � ‪ � � ،‬ا�� ��� ��وژناور � � �� � � �رى� �� �ط �� � �م � �� �� � ۔ � � �ا�� �‬
‫��‬
‫� � ��ں �ر �رو�س �ا� � ‪� � ،‬ى � �� اور ڈا������ د� � د� ��� �ں � �رے �� �� ا��ت � �� � آ�‬
‫�۔‬

‫���م��������������ہر�رٹاور‪31‬د�‪2024،‬ء����وا�دو�ى����ت ����رى�����ت�‬
‫������س�ر��۔‬

‫ا��ت‪:‬‬

‫��ن��ٹر�ا� )‪(����) AAA � (PACRA‬اور‪(���) A1+‬در��ى�ذر����طآ��اور‬ ‫‪‬‬

‫���������۔‬
‫�ا � �اوار � �� اور آر ا� ا� � �ا� � ورك ڈا�رژن � ا�� �� � و� � ا� ا� � � ا� � �ف � �‬ ‫‪‬‬

‫��ارى��و�د�و����ر�۔‬
‫���و� �� �دى�ر � � �اواراور ��ا�ق �ں�و� ���‪� ،‬ل� ��� ����� ‪�30.3‬رو�ر�‪،‬‬ ‫‪‬‬

‫���ت�‪�37.5‬رو��۔‬
‫دو ‪ HRL‬ا�و�‪��،‬ز�ڈو�و�‪،‬اورا��الا��لو���د����اور�اوار�وع��۔‬ ‫‪‬‬

‫‪Goru B‬ر�روا�����اوار��ى�����رىڈ�‪23-‬و����۔‬ ‫‪‬‬

‫�‪-‬ا� ‪ X-1‬و��د�‪�2024‬آ�ى���ول��و����ذر����اوار�وع���۔‬ ‫‪‬‬

‫���ر�ر���� ‪ GSAs‬اور ‪�����(���) Engro‬ے��تا��‪���2029‬دى�۔‬ ‫‪‬‬

‫��ن�������ت��ش�رى�۔اس��������اور�ا��ا��ں��������ں�‬ ‫‪‬‬

‫�ش�����ون������اور���ن��������وغد���۔���تاور��وزٹ����اور‬
‫����ا�ا�ا�ر�ڈر��ورى‪�2025‬و���وع����۔‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬ ‫‪47‬‬

 ‫�رى ��� � ا� � � ذ� � �‪ ،‬اور‪� �� Sky47‬رى ��� � ا�� � �و� � � �ر �� د� �۔‬ ‫‪‬‬

‫‪����Sky47‬ے�وں�ڈ��ز��م��م����۔‬
‫���ل‪134�� 2023-24‬رو�)‪���(%1,340‬ڈ���اور‪���%800‬ز����۔‬ ‫‪‬‬
‫�‬
‫‪16‬د�‪��PSX��،�2024،‬ر�� ����������‪��1‬رو�اور��‪�3.87‬ا��ڈا����رك������‬ ‫‪‬‬

‫�ى���ا�ا������۔‬
‫������رى‪��،‬ار��اور�������ناورا��ا��و�ام�������ددا�ں�د���۔‬ ‫‪‬‬
‫�� � �‬ ‫�� � � �‬
‫��‪�، CSR‬ر�‪�،‬ر�ر�اور �� � ��ا ����� ���ر�ر�اور�� �������ا�ارڈز��۔‬ ‫‪‬‬

‫آ����لاورا��‪:‬‬

‫�������ر���رت �ل‪���:‬ا)��(اور��ن ���ں � �������ر���رت �ل ��آ�� �ا�ا�از �� وا� ا�ا� ��۔‬

‫�‬
‫� � ا��ں‪ � ،‬اور آ�� �� � � ان �س ��ں‪ � � �،‬ا�� ��� �� ا�ا�ت اور �و� � �� � � ا� �‪� � ،‬ط ا�م‬
‫�ورى�۔‬

‫ان��������‪��،‬ا��ط�������ر���ورك����ا����ات��اورآ��������ر���۔‬
‫�����ن����وا�اداروں)‪����� (LEAs‬اور�لرا���ارر��‪،‬اس�ت��������������ر��ا�ا�ت�‬
‫�اپڈ����۔‬

‫�ر���‪:‬‬
‫� �‬
‫���ردرن������)ا�ا���ا�(�و��ں���و��ں���ں�ىآ��۔��ر��ى������ا��‬
‫�ا���و���‪��،‬ا�ا���ا������ ����ا���اور���� �ت�������ا���ا‬
‫�۔‬

‫�‪�،‬اور���ت)‪: (HSE‬‬

‫� � ‪ � � 8.86 � � �ESG‬آورز � � �ا� آ�� � ��‪�� ،‬ارى‪ ،‬اور �ر�ر� ذ� دارى � �وغ د� � ۔ � � �ُ‬
‫� ��‬
‫‪ � �� 28,006‬آورز ر�رڈ � اور �� ‪� � � � ������� �� HSEQ1,400‬ز� � � �� اور � �ؤں � �� اور �رت �‬
‫� �‬
‫ِ‬
‫�������د���۔���آں‪�416،‬ا��ا�ا��ڈر����‪����،‬وا�ت��رى�����اور��رد�‬
‫���ں��ط���۔‬
‫�‬ ‫�� �‬
‫� � �و� � � �ا� � ا� �� � �۔ � اسو� ڈو�� � � ا� �� � �� � �ا� �دہ �ر�ت � � درآ� �‬
‫�‬ ‫�‬

‫ر��۔اس����)‪�� HAZOP(Hazard and Operability Studies‬ر��ت����������‪����،‬ات‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬ ‫‪48‬‬

 ‫������اور����ورك��ط����د�۔��آ��اور�و������‪�،‬ات����‪،‬اور ‪ HSE‬وا�ت‬
‫�����ا��۔‬
‫�� � � � �‬
‫� � ��� ا�ا�ت اور ���� ا ����� ��� � ��ں � �رى ر� �� �� ڈ�ا�ِرِ� � �)‪� �� � (NDRMF‬ر�م آف‬
‫ا�ر��)ا�او�(�د��۔‬

‫ا� ‪ ESG‬ور��وپ�ل�ر�����طر�ر���ورك�����ار���ا�اف )‪ (SDGs‬اور ‪� ESG‬ا��ں����‬

‫آ������م�ر��۔‬
‫�� �‬
‫‪2024،� 28‬ء��ا � �� �ا�ك����د�� � �ت �روآفا��ا��ا�� �� ���ر� �‪،‬اس �� ��م�‬
‫��ون�ا��ر��۔‬

‫��رو�ر���و�‪:‬‬
‫اس�ت�دوران��رو�ر��و����درجذ��‪:‬‬

‫ا��‪�/‬‬ ‫‪31‬د�����وا����ت‬
‫‪2023‬‬ ‫‪2024‬‬
‫روزا�‬ ‫��‬ ‫روزا�‬ ‫��‬
‫�)‪(MMSCF‬‬
‫)‪(%1.45‬‬ ‫‪792‬‬ ‫‪145,783‬‬ ‫‪781‬‬ ‫‪143,675‬‬ ‫�رى�‬
‫‪%0.71‬‬ ‫‪16‬‬ ‫‪2,982‬‬ ‫‪16‬‬ ‫‪3,003‬‬ ‫د��ز‬
‫)‪(%1.40‬‬ ‫‪808‬‬ ‫‪148,765‬‬ ‫‪797‬‬ ‫‪146,678‬‬
‫�وڈآ�)��(‬
‫)‪(%1.20‬‬ ‫‪136‬‬ ‫‪25,079‬‬ ‫‪135‬‬ ‫‪24,777‬‬ ‫�رى�‬
‫‪%3.30‬‬ ‫‪1,058‬‬ ‫‪194,616‬‬ ‫‪1,093‬‬ ‫‪201,039‬‬ ‫د��ز‬
‫‪%2.79‬‬ ‫‪1,194‬‬ ‫‪219,695‬‬ ‫‪1,228‬‬ ‫‪225,816‬‬

‫)‪(%1.31‬‬ ‫‪107,663‬‬ ‫‪�19.81‬‬ ‫‪106,250‬‬ ‫‪�19.55‬‬ ‫‪���BOEs‬و�‬

‫���و��ا��و�� �ل�دوران�و����ا��������ا�۔���دى�ر�������ڈاؤ�اور���ر‬
‫اور�ور��ز�����آف�اورڈ�ى���ں��ف��ر�ر��اور�ا��اوار�وع������و���ا��‬
‫�۔‬
‫�����اورا��ت‪�،‬ر�����ل�آ�اور�ا�ا�ت�ذر��و����ا�ات��������م�۔‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬ ‫‪49‬‬

 ‫����ر�د�‪:‬‬

‫‪31‬د�����وا����ت‬
‫ا��‪�/‬‬ ‫‪2023‬‬ ‫‪2024‬‬
‫رو���‬ ‫�‬
‫)‪(%7.57‬‬ ‫‪93,745‬‬ ‫‪86,652‬‬ ‫��‬
‫)‪(%29.76‬‬ ‫‪62,698‬‬ ‫‪44,036‬‬ ‫���از�‬
‫)‪(%45.86‬‬ ‫)‪(25,193‬‬ ‫)‪(13,640‬‬ ‫ا��‬
‫)‪(%18.95‬‬ ‫‪37,505‬‬ ‫‪30,396‬‬ ‫����‬

‫)‪(%18.95) 31.24 (Restated‬‬ ‫‪25.32‬‬ ‫‪)EPS‬رو���( )دو�رہ�ن��(‬

‫� � �� �ت � �� � �� �و� � � � �� �� �ا ‪� � � ،‬دى و� �اوار� � ‪ � � � � ،‬اور ا�� ڈا� � �� �‬

‫رو������۔‬
‫�رىڈىا�� ���� )‪� ��(����2024��11‬رى���اور� ��و��‪"15 %‬ا��و���رج"‪�،‬اوارى��ت‬
‫� �� � � �‬
‫ڈ���� اور ا�ر��� � ا�� ‪�� ،‬و� � �ا� اور ‪ � � ZS-5‬ا� ا��ا�ا�ت � و� � �� �� �� �ا ۔ اس �‬
‫� � �‬ ‫�‬
‫�وہ‪�� ،‬ت � �� �ا�ر�اور �ا���� ا�ا�ت � � ا���ا‪ � � � ،‬و��� �د � �ط‪،‬ر�روزر ����� ������ �ى اور‬
‫������������رى������۔‬

‫ڈر���ر�د�‪:‬‬

‫��ا�ڈر�����ں�ا�����‪:‬‬

‫ا�وام‪1-‬ا�ر�ىو�‪:‬وز��ن�ك�ا�ر�����ر�اسو�ڈر��رى�۔‬ ‫‪‬‬

‫�ز� �‪:FDP I-‬ڈو� و� �ز�‪� ،6-‬ز�‪ ،7-‬اور �ز�‪ � �� � ��� 9-‬اور � � �‪،6MMscfd��� � ،‬‬ ‫‪‬‬

‫‪،12MMscfd‬اور‪��8MMscfd‬ا�ر��۔‬
‫�ال ا��ل ‪�:‬ال‪� � ،� � � � ��� � 2-‬ال‪ 1-‬اور �ال‪ � 2-‬اب � �د� � �۔ �ال‪ �5 MMscfd� 1-‬اور‬ ‫‪‬‬

‫‪� BOPD200-100‬ا�ر��‪��،‬ال‪��9MMscfd �2-‬ا�ر��۔‬

‫‪HRL‬ر�روا� ‪�:‬رى‪H125-‬اور �رى‪� �H126-‬ا� ��� � � ��‪ � � ،‬ا� و� � �‪� �� � �I-‬ر � �� ا�‬ ‫‪‬‬

‫وِ����‪�����،‬۔دو�ںو����‪��13MMscfd‬ا�ر��‬
‫�رىڈ�‪�: 23-‬رو‪�-‬ر�روا��ڈر������ �رىڈ�‪�~18MMscfd �23-‬در���ہ��آز���‪��،‬‬ ‫‪‬‬

‫���ر�����اوار�ا���ا۔�������ا�و��آ����۔‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬ ‫‪50‬‬

 ‫��‪6-‬و� ‪:‬ا��ا�‪/‬ا�ا�ا�ذ�����در��������د�‪��2024‬رى����‪��6-‬ا��وع�‬ ‫‪‬‬

‫��۔‬
‫�‬
‫‪ ZS-5 � D&PL‬و������ ��ا�ا���د���۔‬
‫�‬ ‫�‪ZS-5‬و� ‪:‬زر�ن‬ ‫‪‬‬
‫�‬
‫� �‬ ‫�‬ ‫�‬ ‫��� ��‬
‫���‪�)X-1‬ہ�ر�ك(‪ X-1��� :‬و���������دا�اور��وڈ����ر����۔‪����C-Sands‬‬ ‫‪‬‬

‫‪ �12.4 MMscfd‬اور‪ �11.7MMscfd �D-Sands � ، ��196 BOPD‬اور ‪�� � ��198BOPD‬‬

‫����۔‬
‫�‬
‫�ڈر����ں � � �دى و��� ���اوراور ا�� ��� ��ر�چاور��� ��ں � ذر��اوارى��ں ���� ��م� ا�دہ‬
‫���۔‬

‫ا������‪:‬‬
‫�‬
‫�ا� آ�� � ‪� � �:‬م ا��ں � � ������� ��� ‪ HAZOP‬ور�� � ا�د � � �� �� �� �� � � � �‬ ‫‪‬‬

‫� �و� � اورآ�� �� ��� ا�ر �� �۔ اس �� � � �� � ا� �ت � دوران ��� � �� � � �‬

‫�‬ ‫�� � �‬
‫�‪� � � � � ،‬اوار اور �و� � �ر ������� � ��‪CMF-II ،CMF-I ، MDCPF‬اور �ول �� � ‪�� �� �،‬ز � �‬
‫���‬ ‫�� �‬
‫�۔� ر� � در� �ى � �د � ا� �� ا� �ن �ر � �� � � � ���� ��� � �ر�ت اور ا� آ��� �� � �و� �ذ � �‬
‫���۔‬
‫� � �و� �)‪� ��� �(SGPC‬ن آراو�)‪ (ATA‬و� � � � �د�۔ ا� ���ں � � �� �ت اور‬ ‫‪‬‬

‫�����‪ ،‬آ���‪،��،‬اور�ر�د��������ا� ���‪������ ،‬ر�د�������م�‬

‫�����۔‬
‫� � ��‬
‫وز��ن�ك�ا�ا��اوار���ت)‪��� : (EPF‬ا ‪�� EPF‬اور ���������رى���آ�����۔�‬ ‫‪‬‬

‫ر�� اور �� � �ورى ‪ � � �� � ��� � 2024‬اور �د �ر �� � �‪ �� ��SNGPL‬ا� ‪� � 2024‬‬

‫��۔ ��������م�رى����ا��از�����۔���ازى�ر���ڈ���ن��م����‬
‫� �‬
‫�����آفڈ�رى���دےدى���ر�����ا����۔‬
‫��� � �‬ ‫�‬
‫�‬‫�‬ ‫�� � � ��������� �‬
‫� �� )‪� (PEF‬و� ‪� :‬و� �� ‪����)I-‬ڈى � ��(���دہ �� �ل�������‬ ‫�‬ ‫‪��HRL‬ا� ���‬ ‫‪‬‬

‫�۔ ا�ا� دا�ہ �ر � � � دى � � اور �� �ہ دا�ہ �ر ز� � �۔ � ‪��� � II‬ر �ز � �م �ڈل ��ز � � آرڈرز‬
‫د� � اور � ��ت � � ا�� �رى�۔ ‪��O&M‬ت � � �م � �� ����ر �ز � �� � �دى‬
‫���۔‬
‫������ �� �‬ ‫� � ��‬
‫�ا� ‪�: ������� � X-1‬ا�ا�‪1-‬و��د�‪�2024‬آ�ى���ول��و� ��ذر���‬ ‫‪‬‬

‫��ا��وع��۔اس����ب�ا������������اور�م���ا�����۔اسو�‪�10MMscfd‬‬
‫�ا���ر����اور�ر�د�������آ���ا�ز���ا���ر��۔‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬ ‫‪51‬‬

 ‫آف�ر�ك‪�) 5-‬اےاى( ‪��:‬نا��آ�� )‪� (PIOL‬ك‪�5‬آ���۔ڈر����ں�رى�‪��،‬ا��ل‬ ‫‪‬‬

‫اورا�ر�ىو���ا����۔‬

‫�رى����)‪: (MariTechnologies‬‬
‫� ��‬
‫ڈو�� � ا� ر�� � ��� � � �رى‬ ‫� � ڈ� �ز ‪ �� ،‬ذ�� )اے آ�( �ؤڈ �� ‪ ،‬اور �و� اور �ن � � �ں اور �‬
‫��� � ��م �� �ذ�� �دى �۔ ڈ� � ����� �� ��را�� ���� ڈ� ا�ا�� ���ں‬
‫����رى��������۔‬
‫�‬
‫�رى���� د� ���رز� ����ا�� ��� �� �ر�� � � ا��� �‪�� SKY47‬دى �‪� � �،‬رى���‬
‫‪����%60‬اورا���ول��ارر��۔‪��SKY47‬ن� ‪ Tier III‬اور ‪��� Tier IV‬ڈ��ز�ر����و��‪�،‬‬
‫� � �ظ اور �� �� ڈ� � �و� � �� �� �� � �رى � ر� �۔ � ا�ام ا��ا� � � آ�� ‪،‬ڈ� �ر� اور �ط ڈ�‬
‫ا�ا��������ور�ت�رى����آ��۔‬

‫‪�COP-28‬دورانآ�ا��ڈ�ر�����ر����‪:‬‬
‫�‬
‫�‬ ‫��‬ ‫�� ��‬
‫"آ�ا��ڈ�ر�����ر�" �د���ن�� ���‪��� �،‬اور� �ں ����� ��اور��‪GHG‬ا�اج�‬
‫���وا�ا�ا�ت���ون�ر��۔‬

‫�� ����اور���ا�� )‪:�� (G&M‬‬

‫��‬ ‫آ��‬ ‫�� ����اور‪��G&M‬‬ ‫��ر‬

‫�رىا��‬ ‫و�و� )‪(G&M‬‬ ‫‪1‬۔‬

‫�‬ ‫�رىا��‬ ‫�ورا�‪(���� ��)2D-‬‬ ‫‪2‬۔‬

‫�رىا��‬ ‫�ورا�)‪(G&M‬‬ ‫‪3‬۔‬

‫�رىا��‬ ‫و�و�‪(���� ��)2D-‬‬ ‫‪4‬۔‬

‫ان��م�رى�‬
‫�رىا��‬ ‫�ران‪(���� ��)2D-‬‬ ‫‪5‬۔‬

‫�‬ ‫��ا�‬ ‫�تو� )‪(G&M‬‬ ‫‪6‬۔‬

‫اس��م�رى�‬ ‫او�ڈى�ا�‬ ‫��ا�‪(���� ��)2D-‬‬ ‫‪7‬۔‬

‫اس��م�رى�‬ ‫�اوا�‬ ‫�ر�ڈ��ل‪(���� ��)3D-‬‬ ‫‪8‬۔‬

‫��‬
‫اس��م�رى�‬ ‫�اى�ا�‬ ‫�س�و���‪(���� ��)2D-‬‬ ‫‪9‬۔‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬

 ‫��ت��ش‪:‬‬

‫ِ‬
‫��م��۔ا�ر�‬ ‫���ن�����ا�ر���‪،EL-322، EL-186‬اور ‪���� EL-323‬ت��ش�‬
‫���ں����اور����� ������ا���ا�ر��ن�ر������ت����ڈر����ں�‬
‫����۔��وف ��اور�ا��ا��ن� �ں ����� ��ں� �ش� ������ون������ ���ن‬
‫���������۔‬

‫�ر�ر���ذ�دارى‪:‬‬

‫� ا� ‪ CSR‬ذ� دار�ں � �را �� � � �دى ڈ��‪ � � ،‬د� �ل‪ ،� ،‬اور ���� � � �� ��ز �� وا� �� � �‬
‫�‬
‫وا���ں�����رى�ر� �۔ا�ر��ى ذ�دار�ں ��وہ‪�� �،‬ار��‪�،�������،‬راك ��‪،‬اور�اور��د�‬
‫�ل�ر����ر��را�ا�ا�ت�����رى��������ں��ط����‪،‬ا���رز��ت��وغد���‪،‬اور‬
‫ا��ور�����۔‬

‫�رى�ڈ�� ‪� CSR‬و�ام‪:‬‬

‫�ا� ‪ CSR‬ا�ا�ت��� ��ں‪/‬ا�ں ��درآ��ر� �‪���،‬دىڈ�����)��‪�� �،‬ا�اورا�ل(‪،‬‬

‫�ف���ر��‪��،‬اور��د��ل���۔‬

‫��ن ‪� CSR‬و�ام‪:‬‬

‫ب�ُاور�� �ب���ہ��ا�ں ��‪��30��45‬ت�������‪�����،‬تز�‬

‫���و�ا�و�ام��‪،‬آ ِ‬
‫��۔‬

‫وز��ن ‪� CSR‬و�م‪:‬‬
‫��� �‬
‫وز��ن ‪� CSR‬و�ام � �‪� 100 ،‬ء � ا� �وپ � � � ��� � � ذر� �� � � �۔ �� �� � �رى �������ر� �‬
‫�رت�ل� و� � �رى �� اور�و�ام اسو�روكد� ��۔ �������ر� � �ى � � ���ں�دو�رہ�وع� �� �� �‬
‫�ما�اد���������۔‬
‫�‬
‫ا�� ��� ���ر��‪:‬‬

‫� � �� ��� �رى‪�� ،‬ار ��‪ ،‬اور ا� ا�اد � �� � �وغ د� � � �� �ن اور ا� � ا� �و�ام � �� �� �‬

‫�ددا�ں�د���‪��،‬ا�ام�ہ���ار����دا�اف����آ��۔‬

‫��ٹر�‪:‬‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬

 ‫��ا�ن�������� ��ن��ٹر�ا�)‪����(PACRA‬طآ��اور���ز��‪(����)AAA‬اور‪+‬‬
‫‪��(���)A1‬ٹر�� ����۔‬

‫� ا� در� �ى � � �ط �� �� ‪ �،‬آ�� ��ں اور اس � �� ذ� دار�ں � �را �� � �ط �� � �� �� �۔ ‪AAA‬‬

‫)�� ��( � در� �ى � � �� �� �� ��وں � �را �� � � � �� �� � ��� �� � ‪� �) A1+ � ،‬ت( � در�‬
‫�ى��ا���������ٹ�ا�������۔‬

‫�ر��رے��آ���ا�ماورا�اد������‪���،‬ر���ز�ر�ز��ر��۔‬

‫ا�ارڈزاور�ن‪:‬‬

‫�رى�‪2024،��19‬ء���ن��ر��و��ز�ا�م�ر�ر���و�ا�ارڈز��ا�م���۔‬ ‫‪‬‬

‫�رى�‪2024،��15‬ء��ل‪����2023‬نا�كا���پ‪�25‬ں�‪��8‬ر��۔‬ ‫‪‬‬
‫�‬
‫�رى� ‪ 23‬ا��‪ 2024 ،‬ء� ‪ 39‬و��ر�ر� ا ��� � ا�ارڈز � ��� � اور � � �� "�� ا�� ��ں" � �‬ ‫‪‬‬
‫�‬
‫��آفا �������۔‬
‫� �‬ ‫�� � � �‬
‫‪18‬ا��‪2024،‬ء��ہ"���ر�ر�ا� �� � ��ا ����� ���ر�رٹا�ارڈز"�� ����ر�رٹ‪��2023‬لا�ا�� �������ى‬ ‫‪‬‬
‫�� � � �‬
‫���ز�‪�،‬اس�� �� � ��ا ����� ���ر�رٹ����ر����ز����۔‬
‫�رى�‪2024،�12‬ء� ‪�� PICG‬ف��ہا�ا�ڈا��ز�‪�"�2024‬ر�ر��ر��و��ا�ارڈ"��ازا�۔‬ ‫‪‬‬

‫آؤٹ�‪:‬‬

‫� ا�����وژناور������ ��رى�ح��م �‪����،‬ا��اور�ا����ظ���ا� �دار��ط��‬

‫� ��ز �۔ �ن � اور ��� � اس� �ع اس� �� � � � �� � آ� �‪ �� �� �� � � � ،‬اور ��ارى�� �� �‬
‫�����۔‬

‫��دہ �ل �دوران‪ �،‬ا�ر� اورا��لو� �آ�� اور �ر�آ����� �‪� �� �(Plan)� �� /‬۔� �� �‬
‫� ا�ا�ت � � � �� �ا�� � �اوار � �� اور � �� � � �� ��۔ اس � �وہ‪�� ،‬رو�ر� � �� � ا�ازہ �� � � �‬
‫�� ����ڈ�����رى�۔‬

‫��د���ں�ا�مدےر����ا�ر�اور�اوارى�ز‪�������/‬ہ���۔�ا�ا�ت�اوار����‪،‬ر�رو���‬
‫����اور��دہ �ز ��اوارى�� ��� ���ز �‪ �،‬و�� ��ا�ل اور �ا�� � �� ���� �� آ�� �ر�د�‬
‫اور���������ا��۔‬

‫����در���ت���ت��ر�ذ����ں�� � ‪:‬‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬

 ‫�ز�اور�ار�روا����ڈو�۔‬ ‫‪‬‬

‫�رى�� ‪� HRL� PEF‬و����اورذ����ں۔‬ ‫‪‬‬

‫����� �‬
‫��ا�ر�� ����ر�ڈر��آ�ز۔‬ ‫‪‬‬
‫� ��‬ ‫��‬
‫�‬
‫ڈ��ا��ا�ا����������ے���ڈ�ا�ر�اور�و�����ظاور��ا�ا ������۔‬ ‫‪‬‬

‫ڈ���اور���ز‪:‬‬

‫���ل‪134��2023-24‬رو�)‪���(%1,340‬ڈ���اور‪���%800‬زاس�ت�دوران���رز����۔‬

‫��ن����وا�اداروں )‪�� (LEAs‬اج�‪:‬‬

‫�ا��دىڈ��‪،‬ا�روںاورآ�������ن����وا�اداروں����د����وا����ل�ماور����‬
‫ورا��رت�ا���ر��ہ�د��۔ان��ا�اور�رى�رى��ں�ا�د��وغد�اور�ا�����ا�ماور��ا��‬
‫�ا��۔‬

‫ا�ر�‪:‬‬

‫�رڈ آف ڈا��ز� � � �م �ز� � ��ار �ر�د� اور �� ا� � � ��ں � � � � ان � � اور �م � �� � �۔‬

‫�رڈ و�� اور ��� ��ں‪ �� ،‬ا��‪ ،‬اور و�� �� � � �ں �ص �ر � وزارت �ا�� )�و� ڈو�ن(‪ ،‬وزارت �ا�‪ ،‬او�ا‪� ،‬و�‬
‫�‬
‫���� � ��� � �‬
‫��‪� �� ،‬ؤ��‪ ،‬او � ڈى � ا�‪ ،‬ا� � آر‪�� ،LEAs ،‬ز‪�JV ،‬ا� داروں‪ ،‬اور �م د� ا� ��رز � �ف � ��ل �� وا�‬
‫��و�اور�ون��دل��ر�۔‬

‫�رڈ��اوراس����‬

‫��لا�ر��ر‪�،‬لا�ز)�ى()ر��ڈ(‬ ‫��ر‬

‫��‬ ‫�ڈا��‪�/‬اىاو‬

‫ا�مآ�د‬
‫‪�27‬رى‪2025،‬ء‬

‫‪FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024‬‬

 MARI ENERGIES LIMITED
VISION & MISSION STATEMENT

Our Vision
Our vision is to become a leading integrated energy company to
contribute towards shaping the energy landscape for the future.
During our journey, we are committed to nurture talent, uplift
communities, protect our planet and positively contribute
towards a better world for the generations to come.

Our Mission
Our mission is to meet the growing energy needs of our country
and beyond by finding and developing existing and new energy
resources. In doing so, we deploy best talent, use innovative
technologies and implement best practices while upholding the
highest ESG standards.

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2024 56

 Head Office
21 Mauve Area, 3rd Road, G-10/4, Islamabad - 44000, Pakistan
UAN: +92-51-111 410 410 Fax: +92-51-2352859
www.marienergies.com.pk

Daharki Field Office Karachi Liaison Office Quetta Liaison Office Regional Office KP
Daharki, District Ghotki Pakistan D-87, Block-4, Kehkashan, 26, Survey-31, Bannu Cantt.
UAN: +92-723-111 410 410 Clifton, Karachi-75600 Defence Officers Housing Scheme Tel: 0928-621793-4
Fax: +92-723-660402 Pakistan Airport Road, Quetta, Pakistan
UAN: +92-21-111 410 410 Tel: +92-81-2821052, 2839790
Fax: +92-21-35870273 Fax: +92-81-2834465