Exploration is a key part of MPCL’s energy business with the aim to deliver resource addition in support of the company’s strategic objectives and to meet energy challenges faced by the country & Industry. Current Exploration strategy focuses on both short-term value through near field opportunities which can be brought on stream and start to generate value quickly; and mid-term to long term growth with focused investment in play extension and frontier Exploration by testing new geological concepts and finding oil and gas resource.

Continuous Portfolio optimization and expansion is one of the key pillars of our strategy; crucial for long term business sustainability and growth. Our dedicated New Venture team is continuously working on finding attractive opportunities based on regional understanding and play assessments.

The Company has already built a strong position by strategically spreading its exploration portfolio across Pakistan. Currently, MPCL has a portfolio of 34 Exploration Licenses (ELs), covering an acreage of 68,290 Sq.Km with an impressive 15 ELs added with in the last 3 years including one offshore EL in Abu Dhabi. Apart from other geologically challenging areas, the Company is also focusing on exploratory efforts in security sensitive areas of Balochistan and KP.

Our exploration team aims to create value every year, primarily in high graded prolific areas by identifying & accessing subsurface sweet-spots and maintaining a highly ranked drilling hopper. The team is focused to execute its long-term exploration plan where it provides a good basis for future organic growth of the Company by further adding new hydrocarbon resource while reducing finding costs.

Most of the “easy-to-find” hydrocarbons across the world have already been discovered, in last 3 years addition of more than 100 mmboe resource proves our Geoscientists continuously strive to generate innovative ideas utilizing advanced integrated technologies in challenging subsurface regimes. Exploration Projects are evaluated, ranked and prioritized using best industry practices and workflows to ensure that most attractive opportunities are pursued that add economic value to the country and promote best practices in safety and environmental protection, business ethics and corporate social responsibility. We believe that our exploration team’s culture of inquisitiveness is a distinctive advantage, which propels the idea generation that ultimately leads to new discoveries.

MPCL is focused, and committed to explore the untapped hydrocarbon resources by working closely with its local and international host communities. It aims to allocate essential investment capital for the execution of its exploration program to become one of the leading international exploration companies.