MPCL is a fully integrated exploration and production company of Pakistan, currently managing and operating 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 and Sujawal Gas Fields and has operatorship of eight exploration blocks (Ziarat, Harnai, Sukkur, Sujawal, Karak, Ghauri, Peshawar East, and Khetwaro). The Company is also a non-operating joint venture partner with leading national and international E&P companies in six exploration blocks (Kohlu, Kalchas, Kohat, Zindan, Hala and Bannu West) and one D&P lease (Adam X). The Company’s exploration and production assets are spread across the Country in all the four provinces.
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, three land drilling rigs and a slick line unit.
With expansion into exploration activities and addition of E&P allied services, MPCL has become a fully integrated E&P company in the Country, rivaling the national oil company.
MPCL is a major producer of natural gas currently holding around 11% market share. Other products of the Company include crude oil, condensate and LPG. The Company also looks to providing seismic data acquisition, seismic data processing, drilling rigs, slick line and allied services on commercial basis.
The gas produced by the Company is supplied to fertilizer manufacturers, power generation companies and gas distribution companies while crude oil and condensate are supplied to the refineries for further processing.
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 capitalization as on June 30, 2016 was around Rs 100 billion (at closing price of Rs 908 per 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.
The Company is making 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 is playing a crucial role in ensuring continuous supply of fertilizer to agriculture
sector thereby contributing to food security in Pakistan.
During the financial year 2015-16, the Company produced 30.48 million barrels of oil equivalent energy which resulted in foreign exchange saving of around Rs 142 billion. In addition, the Company contributed around Rs 77.33 billion to the national exchequer on account of taxes, royalty, excise duty, sales tax, gas infrastructure development cess and gas development surcharge.
On a regional level, the Company has not only provided jobs to the local population but has also developed infrastructure in its areas of operations, which has significantly helped in development of these areas.
The Company also aggressively follows CSR programs for the uplift of the communities inhabiting the areas of operations. During the financial year 2015-16, the Company spent around Rs 193 million on CSR activities/projects in different blocks.