Growth Strategy - Navigation Through Uncertainty
MPCL has several key strengths which places MPCL in good speed 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 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.