The history of MPCL is intertwined with the history of Mari Gas Field, the mother field of the company. Mari Gas Field was originally discovered by Pakistan Stanvac Petroleum Project (PSPP), a joint venture formed in 1954 between the Government of Pakistan and Esso Eastern Incorporated of USA, having 49% and 51% ownership interests, respectively, for undertaking exploration activities in Pakistan.
The first gas discovery was made by the Joint Venture with the successful drilling of an exploratory well Mari X-1 in Daharki, District Ghotki, Sindh province.
Production from the Mari field started with the supply of gas to Esso’s newly established urea plant (now Engro) in the vicinity of the field.
Esso Eastern sold its entire share in the PSPP to the Fauji Foundation. Consequently, the Government of Pakistan and the Fauji Foundation decided to set up a company for the purpose of taking over the business operations, assets, and liabilities of PSPP.
On December 04, 1984, Mari Gas Company Limited (MGCL) was incorporated as a public limited company, with Fauji Foundation, the Government of Pakistan, and OGDCL as its shareholders, having 40%, 40%, and 20% shareholding, respectively. MGCL took over the assets, liabilities, and operational control of the Mari Gas Field.
The Government of Pakistan divested 50% of its shares to the general public, and the Company was listed on the then three stock exchanges of Pakistan.
MGCL was granted a license for the exploration of oil and gas in addition to its existing production activities.
The name of the Company was changed from "Mari Gas Company Limited" to "Mari Petroleum Company Limited" (MPCL) to reflect its diversified business operations and expanded activities.
Mari Field marked its Golden Jubilee on December 22, 2017. These were 50 years of meticulous operations and true professionalism as evidenced by the uninterrupted supply of hydrocarbons to the company’s customers.
In February 2021, the Economic Coordination Committee of the Cabinet approved the removal of the cap on dividend distribution by MPCL, enabling the company to decide dividend payout in accordance with the applicable laws, based on its financial performance and internal funding requirements.
In June 2022, MPCL made a significant hydrocarbon discovery at the Shewa-1 exploratory well in the North Waziristan Area.
In January 2023, MPCL made a landmark new gas discovery at Mari Ghazij-1 exploratory well, which opened a new play for hydrocarbon exploration in the country.
The company commissioned the largest development project in its history, the Sachal Gas Processing Complex at Mari Field to process raw gas from Mari Goru-B Field’s deeper reservoir to supply pipeline-quality gas to SNGPL via its own cross country pipeline to connect Mari field with SNGPL network.
In April 2024, MPCL made an oil discovery at Shawal-1 well in Mari Field area. This is the first-ever oil discovery in the Mari Field, which has been producing natural gas since 1967.