Growth Strategy - Navigating Through Uncertainty
MPCL has several key strengths which places MPCL in good stead for a successful and sustainable future for its society and shareholders. We have a strong brand position which is a key to winning customer and partner trust. We have an established track-record of delivering cost-effective performance year upon year. MPCL also has the financial scale, technical expertise and footprint to deliver projects of increased complexity and scale. MPCL is constructing its growth strategy along three growth pillars:
- Optimize core E&P Portfolio
- Grow the core by expanding along the gas value chain
- Complimented by targeted opportunistic investments
Short to Medium Term
In the midst of a dual shock of a global pandemic and oil price shock, MPCL is seeking to carve out opportunities in the following paths:
- Focus on cost rationalization as well as production enhancement from discoveries/fields while ensuring optimum recovery;
- Synergizing exploration, drilling and development activities for bringing maximum efficiency;
- Enhanced collaboration with other players for knowledge sharing, policy formulation and efficient decision making;
- Focus on improving reserves replacement ratio by acquiring discovered/undeveloped assets as well as producing assets with upside potential, through mergers and acquisitions;
- Early monetization of discoveries through efficient and effective marketing strategies;
- Intensifying indigenous exploration activities in alignment with national objectives.
- We find it inevitable that fossil fuel companies will transition into energy companies with presence in the whole diversified value chain which will include non-traditional businesses. MPCL envisions a balanced portfolio where the needs of the planet, our nation and our shareholders are adequately addressed.
- While catering for the emergence of green energy, we are certain that hydrocarbons will have a significant place in the energy mix and world will depend on oil, and to greater extent gas, well into the future. Given its role as a transition fuel to the low carbon economy, the role of gas will be even greater. Therefore, MPCL will position its portfolio towards chasing gas potential in its exploration efforts.