Mari petroleum launched “Mari Mobile Dastarkhawan” to deliver food to the needy people in Rawalpindi and Islamabad, as a pilot project. MD/CEO Mari Petroleum, Faheem Haider and on behalf of Comprehensive Disaster Response Services (CDRS), Mr. Todd Shea & Mr. Nabeel Azad were present at the launching ceremony along with representatives of MPCL and CDRS management teams. Mari Petroleum signed a memorandum of understanding with CDRS to formalize the partnership. Talking about MPCL’s CSR initiatives ,Mr. Faheem Haider highlighted that MPCL has carried out numerous high-impact projects in the thematic areas of education, health, water supply schemes, infrastructure development, etc. for...
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MPCL has won 1st Prize for Best Employment Practices in the category of Medium National Companies, at 8th Employer of the Year Award 2020. The Award Ceremony was organised by the Employers’ Federation of Pakistan on 12th March 2021 in Karachi. President of Pakistan, Dr. Arif Alvi was the Chief Guest. This is the Fourth year in a row that MPCL has won the 1st Prize for Best Employment Practices. The Awards recognise MPCL’s excellence in corporate, general management, HRM & employment practices, labour laws & core International Labour Standards compliance, working conditions, health and safety at work, CSR, training and skill development initiatives, compliance with...
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Mari Petroleum Company Limited has signed a Memorandum of Understanding (MoU) with Akhuwat for the smooth implementation of “Sarbuland” an MPCL’s Initiative for Economic Empowerment. The memorandum was duly endorsed by MD/CEO Mari Petroleum, Faheem Haider and Dr. Amjad Saqib, founder and Executive Director of Akhuwat, at Mari petroleum’s head office on Tuesday, 9th of February, 2021. Senior Management representatives from both organizations were also present at the occasion. The pilot project titled “Sarbuland” will be executed in Mianwali where Microloans will be disbursed to potential beneficiaries for economically viable entrepreneurial/small scale ventures, as verified by Akhuwat’s assessment team and the recovery period for these...
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On January 26, 2021 Directorate General of Petroleum Concessions communicated the provisional award of new exploration blocks to Mari Petroleum Company Limited (MPCL) (two blocks as an Operator and two as a JV Partner with other E&P Companies). The blocks have been awarded after competitive bidding, on the basis of work units committed by different E&P Companies in the Block Bidding Round 2020 arranged by the Government. Details of the blocks are as under: S# Block Name Operator JV Partner 1 Nareli MPCL (39%) POL (32%) Spud Energy (29%) 2 Sharan MPCL (60%) OGDCL (40%) 3 Killa Saifullah OGDCL (60%) MPCL (40%) 4 North Dhurnal POL (60%) MPCL (40%) Formal award of the blocks is subject to: Approval of the acquisition by MPCL...
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MPCL Annual Report 2019 has won Two “Certificates of Merit”; one in broader “Manufacturing” category and the other in the category of “SAARC Anniversary Award for Corporate Governance Disclosures”. The Certificates were awarded by the South Asian Federation of Accountants (SAFA). This year, the Award Ceremony was hosted virtually by the Institute of Chartered Accountants of Sri Lanka, on December 23, 2020. The SAFA Awards are conferred on the basis of evaluation of the annual reports’ entries from the South Asian countries. The evaluation is carried out by SAFA’s Committee for Improvement in Transparency, Accountability & Governance (ITAG). It is highlighted that MPCL...
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MPCL has been included in the Top 25 Companies on Pakistan Stock Exchange for the Year 2019. The Top 25 Companies Award is one of Pakistan’s premier corporate recognition awards, first introduced by the Exchange (then KSE) in 1978 with the aim to sift the best from the rest. The criteria for the year 2019 included (i) Capital Efficiency (ii) Profitability (iii) Free-Float of Shares (iv) Transparency (v) Corporate Governance & Investors Relation, and (vi) Compliance with Listing and Securities Regulations. On the basis of the scores obtained in each segment, MPCL has been placed at No. 11 among 555 companies currently listed...
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In view of spread of Coronavirus (COVID-19) around the Globe and in Pakistan, MPCL Management has taken several measures for sustained operations of the Company and at the same time to ensure safety of its employees, their families and visitors. Pursuant to these measures, in the first phase, all local and foreign travels as well as gathering of employees for meetings and other sessions were curtailed. Screening tests were conducted for the employees and their families. Several awareness sessions regarding Coronavirus covering topics such as origin and spread of the virus as well as preventive measures were conducted for management and...
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The Company successfully drilled development well ZS-4 in its Zarghun South Gas Field in Balochistan. During production testing, the well flowed 6.33 million cubic feet of gas per day. After acid stimulation, the well potential is expected to be enhanced to 12-15 million cubic feet per day. To expedite tapping of gas from newly drilled well, construction of 8” diameter pipeline from Zarghun Processing Plant to ZS-4 has already started. The Company plans to start supply of additional gas to M/s SSGCL by end of March , 2020. It is pertinent to mention that gas from Zarghun South Gas Filed is dedicated...
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MPCL Annual Report 2019 has won 1st Position in Fuel & Energy category and, for the very first time, overall 2nd Position amongst all listed companies. The Awards were 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 announced in the Business Recorder on October 14, 2020. The annual report entries from Pakistani listed companies were evaluated against a comprehensive and stringent criteria laid down by the Joint Committee of ICAP-ICMAP to determine the best reports. These Awards recognise MPCL’s commitment to the best corporate governance practices...
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Living up to its commitment, Mari Petroleum has brought-out two pieces of good news in a single day to lift the mood and morale of the nation amidst all the gloom caused by COVID-19. First, the Company successfully completed seismic data acquisition project in Bannu West Block on March 17, 2020. Bannu West Block, straddling Bannu, Laki Marwat, Kurram Agency, Hangu, and North Waziristan, was lying dormant since 2005 due to precarious security situation. Acting in the national interest and relying on its capabilities to operate in security sensitive areas, Mari Petroleum acquired additional working interest and Operatorship of the block...
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