In order to meet the energy requirements and economic development of Pakistan, Mari Petroleum Company Limited has ventured into Geological and Geophysical activities since its expansion into the exploration business in the year 2001. Given the decline in existing oil and gas reserves, exploration activities have become increasingly important in order to ensure food security and maintain stability of energy supplies for the country.
MPCL has already built a strong position by strategically spreading its exploration portfolio across all provinces of Pakistan. Currently, MPCL has a portfolio of 23 Exploration Licenses (ELs) of which the company operates 14 ELs and 7 Development & Production (D&P) leases, while 9 ELs and 6 D&P Leases are operated by our Joint Venture Partners 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. MPCL is fully committed to execute its long-term exploration plan where it provides a good basis for future organic growth of the Company by further augmenting Company’s hydrocarbon resources. Most of the “easy-to-find” hydrocarbons across the world have already been discovered, therefore our Geoscientists continuously strive to generate innovative ideas utilizing advanced integrated technologies to find new resources in challenging subsurface regimes. Exploration Projects are ranked and prioritized 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. “Over the period of last 17 years, MPCL has successfully made 24 oil and gas discoveries in its operated Portfolio.”
Portfolio expansion is one of the key pillars of MPCL’s medium to long term strategy that is crucial for long term business sustainability. Our dedicated teams continuously work on finding attractive opportunities based on their regional knowledge and technical competence while ensuring use of state of the art technologies.
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 and MPCL stake in offshore block 5 in Abu Dhabi is a first step in this direction.