GCIL expands into gas sales with new GSPA agreement

On 03/02/2025, Ghani Chemical Industries Limited (GCIL) released the following material information.

Ghani Chemical Industries Limited (GCIL/the Company), Mari Energies Limited (formerly Mari Petroleum Company Limited) and Oil and Gas Development Company Limited have entered into a Gas Sales & Purchase Agreement (GSPA) for supply of 3 MMSCFD natural gas during EWT (extended well testing) period from Maiwand-X1 discovery made in Block-28 which is located in District Kohlu, Baluchistan.

The said gas supply will allow GCIL, not only to achieve the significant efficiencies in its energy costs but also enable the Company to market/sell gas to industrial units all over the country.

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GCIL plans to set up its own gas processing facility in the area to process gas before selling it to potential customers. The revenues from gas sales will further increase the Company’s topline by more than PKR 3.5 billion per annum.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →