MPCL is one of the leading exploration and production companies in Pakistan. It manages and operates the Country’s largest gas reservoir (in terms of current reserves) at Mari Field, District Ghotki, Sindh. In addition to Mari Gas Field, MPCL currently holds development & production leases over Zarghun South, Sujawal, and Halini X-1 and has operatorship of eight exploration blocks (Sujawal, Karak, Ghauri, Sukkur, Ziarat, Harnai, Peshawar East, and Bannu West). The Company is also a non-operating joint venture partner with leading national and international E&P companies in two D&P leases (Adam, Adam West) and five exploration blocks (Hala, Kohlu, Kalchas, Kohat, and Shah Bandar).
As a distinct edge over many other E&P companies, MPCL owns and operates a 3D seismic data acquisition unit, a 2D/3D seismic data processing centre and three land drilling rigs. With expansion into exploration activities and addition of E&P allied services, MPCL is now a fully integrated E&P company in the Country.
MPCL enjoys 65% exploration success rate – much higher than industry average of 33% (local) and 17% (international).
MPCL is a major producer of natural gas and currently holds around 17% market share in the Country. It also produces crude oil, condensate and LPG. The gas produced by the Company is supplied to fertilizer manufacturers, power generation and gas distribution companies, while crude oil and condensate are supplied to the refineries for further processing.
The Company also provides seismic data acquisition, seismic data processing, drilling rigs and allied services on commercial basis.
The paid-up share capital of the Company is Rs. 1,102,500,000 divided into 110,250,000 ordinary shares of Rs.10/- each. The ordinary shares of the Company are quoted on Pakistan Stock Exchange. Total market capitalisation as on June 30, 2017 was around Rs. 174 billion (at closing price of Rs. 1,575/ordinary share). Fauji Foundation holds 40% of the shareholding in the Company along with management rights, while Government of Pakistan, OGDCL and General Public hold 18.39%, 20% and 21.61% of the shareholding, respectively.
MPCL makes significant contributions towards the Country’s development by providing raw material to the fertilizer industry and supplying gas for power generation. Around 80% of fertilizer production depends on gas supplied by MPCL. By supplying gas to the fertilizer sector, MPCL plays a crucial role in ensuring continuous supply of fertilizer to the agriculture sector thereby contributing to food security of Pakistan.
During the financial year 2016-17, the Company produced 32 million barrels of oil equivalent energy, which resulted in foreign exchange saving of around Rs. 172 billion. In addition, MPCL contributed around Rs. 74 billion to the national exchequer on account of taxes, royalty, excise duty, sales tax, gas infrastructure development cess and gas development surcharge.
The Company provides jobs to the local population and contributes to the development of infrastructure in its areas of operations, which has significantly helped in the development of these areas. The Company also aggressively follows CSR programmes in the areas of its operations for the uplift of local populace.
MPCL is an Integrated Management Systems certified company and holds certifications for Quality Management System (ISO 9001:2008), Environmental Management System (ISO 14001:2004), Occupational Health & Safety Assessment Series (OHSAS 18001:2007) and Information Security Management System (ISO 27001: 2013). The scope of certifications covers MPCL Head Office, Mari, Zarghun and Sujawal Gas Fields, Halini Oil Field, Karachi Office and Rig Mari-1.