Building on the landmark success of the first-ever horizontal well last year, Mari Petroleum Company Limited (MPCL) has successfully drilled and tested a second horizontal well “Mari-123H” in the Habib Rahi Limestone (HRL) Reservoir at Mari Gas Field. The well was drilled to a total measured depth of 1,846 meters with a horizontal section of around 900 meters which is approximately 400 meters longer than the first well. A longer horizontal section was achieved through utilization of the latest directional drilling and geo-steering technologies with real time data monitoring in subnormal pressure environment. Better planning and execution resulted in 17%...
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Mari Petroleum Company Limited (MPCL) has made a landmark gas discovery at Mari Ghazij-1 exploration well, drilled in Mari Development & Production Lease (Mari D&PL) area, located in Sindh Province. MPCL is the Operator of Mari D&PL with 100% working interest. The well was spudded-in on November 24, 2022 and successfully drilled down to the depth of 1,015 meters. The gas flow rate established through Drill Stem Test is 5.1 Million Standard Cubic Feet Per Day (MMSCFD) with Wellhead Flowing Pressure (WHFP) of 232 Pounds Per Square Inch (Psi) at 64/64 inch choke size. This was the first dedicated exploratory well targeting...
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Directorate General of Petroleum Concessions vide its letters dated November 07, 2022, has communicated the provisional award of four (4) new exploration blocks to Mari Petroleum Company Limited (MPCL) of which, one block is awarded as an Operator and three blocks as a Joint Venture Partner with Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL). The blocks have been awarded after competitive bidding on the basis of work units committed by various E&P Companies in the Pakistan E&P Bid Round 2022 (October) conducted by DGPC. Details of the blocks are as under: S# Block Name Province Operator (Working Interest) JV Partners (Working Interests) 1. South Pishin Balochistan MPCL...
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MPCL secured 1st Position for the “Employer of the Year Award” in the Large National Category & “CEO of the Year Award” for securing the highest score, in the “9th Employer of the Year Award 2021” competition. Every year “Employers Federation of Pakistan” organizes awards for best employment practices and MPCL has been actively participating and winning these competitions. The award ceremony was held on Thursday 27th October 2022, in Karachi. Mr. Sajid Hussain Turi, Federal Minister for Overseas Pakistanis & HRD was the Chief Guest at the occasion and distributed the awards. MPCL takes pride in fostering a safe workplace that supports talent management and development. The accolades are a...
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Corporate Briefing Session May 24, 2023 The Company carries out periodic briefings for the existing and potential investors and stock market participants to apprise them about the Company’s operational and financial performance and the Company’s future plans. During FY 2022-23, two (2) Corporate Briefing Sessions were arranged at the MPCL Head Office on October 14, 2022, and May 24, 2023.The sessions were attended by a large number of market analysts, members of the brokerage houses, shareholders, and employees in person as well as virtually on MS Teams....
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MPCL held a Corporate Briefing Session at its Head Office in Islamabad on Friday, June 24, 2022, in partnership with the Foundation Securities (Pvt) Ltd. A large number of shareholders, market analysts and employees attended the session in person as well as virtually on MS Teams. The Managing Director/CEO MPCL, Mr. Faheem Haider briefed the participants about the Company’s business operations including recent achievements, ongoing exploration, production and development projects, financial performance and future plans. A Q&A session followed during which the Managing Director and other members of the senior management replied to the participants’ queries regarding different aspects of the Company’s...
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This is for the fifth consecutive year that MPCL Annual Report has been declared the best report in this category. The Award was conferred by the Joint Committee of the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP) at the Best Corporate and Sustainability Report Awards ceremony held on September 27, 2022, at Karachi. This Award recognizes MPCL’s commitment to the best corporate governance practices through the publication of timely, transparent, and detailed annual reports....
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MPCL has made a gas & condensate discovery at exploratory well Bannu West-1 ST-1 in Bannu West Block, located in North Waziristan, KP Province. The BW-1 well was spud-in on June 06, 2021 and successfully drilled down to the depth of 4,915 meters, with MPCL own Rig Mari-3. During testing, Lockhart Limestone formation flowed @ ~25 MMSCFD with Wellhead Flow Pressure (WHFP) of 4,339 Psi and around 300 BPD condensate at 32/64 inch choke size (Pre-acid). Further, Hangu formation also flowed gas @ 1.6 MMSCFD with WHFP of 297 Psi at 32/64 inch choke size. This is the first-ever gas & condensate...
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For the 5th consecutive year, MPCL has won Corporate Excellence Award (in Oil & Gas Sector) for the Best Management Practices. The Award was conferred at 36th Corporate Excellence Awards Ceremony arranged by the Management Association of Pakistan (MAP) today (October 28, 2021) in Karachi. The Corporate Excellence Award was instituted by MAP in 1982 with the aim to recognise and honour companies showing outstanding performance and demonstrating progressive and enlightened management practices. The evaluation for the Awards comprised of four phases i.e. (i) shortlisting on the basis of dividend pay-outs during the last three years (ii) detailed financial assessment (iii) review of...
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Mari Petroleum along with consortium of Pakistani companies, Oil and Gas Development Company Limited (OGDCL) and Government Holdings (Private) Limited (GHPL), led by Pakistan Petroleum Limited (PPL), has been awarded Offshore Block 5 in Abu Dhabi’s second competitive exploration block bid round. Offshore Block 5 covers an area of 6,223 square kilometers and is located 100 kilometers north east of Abu Dhabi city. The consortium is led by PPL. The consortium companies have established an independent company namely Pakistan International Oil Limited (PIOL) at Abu Dhabi Global Market with each consortium company having a 25% equity stake in PIOL. The exploration...
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