• Source: Mari Petroleum

Mari Petroleum Company Limited (MPCL) (Urdu: مری پیٹرولیم) is a Pakistani petroleum exploration and production company based in Islamabad, Pakistan. The company is controlled by the Fauji Foundation with 40 percent shares.
It is operating the country’s second largest gas reservoir at Mari Field, District Ghotki, Sindh. MPCL is primarily engaged in exploration, development and production of hydrocarbon products (natural gas, crude oil, condensate, and liquefied petroleum gas).
It is listed and traded on the Pakistan Stock Exchange.




History


In 1957, when MPCL was operating as Esso Eastern Inc., the Mari Gas Field was discovered in Daharki, Ghotki District, Sindh, Pakistan, with an original gas in place (GIIP) estimate of 2.38 TCF. Over the years, with the phased development of the Field and subsequent reservoir evaluations, the GIIP of the Field was enhanced to 10.751TCF, thus making Mari one of the largest gas fields in Pakistan in terms of balance reserves.
In May 1983, the Fauji Foundation, a major Pakistani group, along with OGDCL (Oil and Gas Development Company, Ltd.) and the Government of Pakistan acquired the entire business operation of Esso Eastern Inc. in Pakistan, which included the Mari Gas Field.
In December 1984, the business was reorganized and incorporated as Mari Petroleum Company Limited, and it acquired the assets, liabilities, and operational control of the Mari Gas Field.
In 1994, Mari was listed on the Karachi Stock Exchange, following an initial public offering at PKR 25 per share.
Mari Petroleum primarily operated as a production company until 1997, when it began the phased development of the Habib Rahi Reservoir to supply gas for new fertilizer plants. The company also simultaneously pursued appraisal activities within its Mari D&P Lease by drilling step out wells to determine the boundaries of the Habib Rahi Reservoir.
In 2002, Mari Petroleum, Total, and their contracting partners—Petronas, OMV, and the Oil and Gas Development Company—signed Pakistan's first-ever Production Sharing Agreements (PSAs) with the Government of Pakistan.
Mari's tariff was cost-plus but it was changed to international crude prices, starting from 2014-2015.
The hallmark of MPCL's growth and expansion is also represented by its entry into exploration activities in 2001.




Operated blocks


Mari D&P Lease; MPCL has 100% working interest
Zarghun South D&P Lease; MPCL has 35% working interest
Sujawal Block; MPCL has 100% working interest
Peshawar East; MPCL has 98.2% working interest
Ziarat Block; MPCL has 60% working interest
Ghauri Block; MPCL has 35% working interest
Karak Block; MPCL has 60% working interest
Sukkur Block; MPCL has 58.8% working interest
Harnai Block; MPCL has 40% working interest
Bannu West Block; MPCL has 35% working interest




Non-operated blocks


Hala Block; MPCL has 35% working interest
Kohlu Block; MPCL has 30% working interest
Kalchas Block; MPCL has 20% working interest
Kohat Block; MPCL has 20% working interest
Shah Bandar Block; MPCL has 32% working interest




National Resources Limited


National Resources Limited (NRL) is created as joint venture to involve in among other things, exploration, survey, extraction, excavation, mining and sale of produced minerals. Y.B. Pakistan, Arif Habib Equity, Liberty Mills, and Reliance Commodities are the Joint Venture partners. Each will have 20% share.




References






External links


Official website

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