Mari Petroleum Company Limited (MPCL) ( ur, ) is a Pakistani

petroleum exploration Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for deposits of hydrocarbons, particularly petroleum and natural gas, in the Earth using petroleum geology. Exploration methods Vis ...

and production company based in

Islamabad Islamabad (; ur, , ) is the capital city of Pakistan. It is the country's ninth-most populous city, with a population of over 1.2 million people, and is federally administered by the Pakistani government as part of the Islamabad Capital ...

Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's fifth-most populous country, with a population of almost 243 million people, and has the world's second-lar ...

. The company is controlled by the

Fauji Foundation Fauji Foundation ( ur, ), lit. ''Soldier Foundation''), (also known as Fauji Group) is a Pakistani conglomerates company which is active in fertilizer, cement, food, power generation, gas exploration, LPG marketing and distribution, financial ...

with 40 percent shares.Mari Petroleum Company Limited - stock quote and company business summary on MarketScreener.com website
Retrieved 19 June 2021 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 In organic chemistry, a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon. Hydrocarbons are examples of group 14 hydrides. Hydrocarbons are generally colourless and hydrophobic, and their odors are usually weak or ...

products (

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

, crude oil,

condensate Condensate may refer to: * The liquid phase produced by the condensation of steam or any other gas * The product of a chemical condensation reaction, other than water * Natural-gas condensate, in the natural gas industry * ''Condensate'' (album) ...

, 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 Daharki ( ur, ) is a city in Ghotki District in the Sindh province of Pakistan. It is the capital of Daharki Taluka, an administrative subdivision of the district. It is situated about 100 km northeast of Sukkur, between Mirpur Mathelo ...

Ghotki District Ghotki District ( sd, ضِلعو گھوٽڪي; ) is a district of the province of Sindh, Pakistan, with headquarter the city of Mirpur Mathelo. Prior to its establishment as a district in 1993, it formed part of Sukkur District. Administration ...

, 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

, a major Pakistani group, along with

OGDCL Oil and Gas Development Company Limited, commonly known as OGDCL ( ur, شرکتِ محدود برائے ترقیاتِ گیس و تیل) is a Pakistani oil and gas company. It has a primary listing on the Pakistan Stock Exchange, and secondary ...

(Oil and Gas Development Company, Ltd.) and the

Government of Pakistan The Government of Pakistan ( ur, , translit=hakúmat-e pákistán) abbreviated as GoP, is a federal government established by the Constitution of Pakistan as a constituted governing authority of the four provinces, two autonomous territorie ...

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. MPCL 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 A fertilizer (American English) or fertiliser (British English; see spelling differences) is any material of natural or synthetic origin that is applied to soil or to plant tissues to supply plant nutrients. Fertilizers may be distinct from ...

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. The hallmark of MPCL’s growth and expansion is also represented by its entry into exploration activities in 2001.Mari Petroleum Company Limited a rising star
Business Recorder (newspaper), Published 26 April 2017, Retrieved 19 June 2021

Exploration

MPCL started extensive geological and geophysical exploration in 2001, often in partnerships with local and international exploration and production companies to tap indigenous hydrocarbon resources of the country. MPCL’s success ratio in 2013-14 was 100 percent as MPCL drilled five oil/gas wells and all were successful which resulted in a significant increase in the company's oil/gas production. Last year MPCL share prices were trading at around Rs 400 per share, which has now crossed Rs. 900 per share. MPCL's success ratio is 1:1.4, which is high compared to other E&P companies which average 1:4; internationally the ratio is 1:8. About 78% of MPCL's gas production is dedicated to fertilizer plants, and the company is playing a very critical role in the growth of the agriculture sector. Currently, MPCL is working in 17 oil/gas blocks, of which 11 blocks are entirely being explored by MPCL while in the other 6 blocks MPCL is a joint partner.

MPCL 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 (Atif Khan
MPCL discovers oil reserves near Jhelum
The Nation (newspaper), Published 7 June 2014, Retrieved 19 June 2021 * Karak Block; MPCL has 60% working interest Mari Gas makes major oil discovery in Mianwali
Pakistan Today (newspaper), Published 14 October 2011, Retrieved 19 June 2021 * Sukkur Block; MPCL has 58.8% working interest * Harnai Block; MPCL has 40% working interest * Bannu West Block; MPCL has 35% working interest

MPCL 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 A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and economic risk, risks, and shared governance. Companies typically pursue joint ventures for one of four rea ...

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

{{DEFAULTSORT:Mari Petroleum Company Limited Fauji Foundation Pakistani companies established in 1984 Companies based in Islamabad Companies listed on the Pakistan Stock Exchange Oil and gas companies of Pakistan 1983 mergers and acquisitions Energy companies established in 1984 ExxonMobil