MPCL has been Provisionally Awarded Four New Exploration Blocks
MPCL has been Provisionally Awarded Four New Exploration Blocks 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
November 8, 2022
MPCL Wins Employer of the Year Award 2021
MPCL Wins Employer of the Year Award 2021 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
October 28, 2022
Hydrocarbon Discovery at Exploratory Well Bannu West-1 in Bannu West Block, KP
On June 01, 2022; Mari Petroleum Company Limited (MPCL) an associated company of Fauji Foundation announced a gas/condensate discovery resulting from its exploratory efforts at Bannu West-1 well, located in North Waziristan district, KP Province. The discovery is one of the largest gas/condensate discoveries in recent past in the country and first ever in North Waziristan. It is of significant importance for Pakistan which will go a long way in meeting the country’s energy demands from indigenous resources resulting in saving of valuable foreign exchange.
The well was drilled down to 4915m and tested gas at a rate of around 50 MMSCFD and 300 Barrels per Day of condensate with well head flowing pressure (WHFP) of 5513 Psi at 40/64 inch choke size after acid job in Lockhart Formation. Another Drill Stem Test in Hangu Formation also tested gas at a rate of 1.6 MMSCFD with WHFP of 297 Psi at 32/64 inch choke size.
MPCL together with its joint venture partners Oil & Gas Development Company Limited (OGDCL) and Zaver Petroleum Corporation (Pvt) Limited (ZPCL), is now undertaking a fast track appraisal and development program to bring the discovery on early production in order to fully exploit the hydrocarbon resources. MPCL is also working closely with Sui Northern Gas Pipelines Limited (SNGPL) who is laying gas transmission pipeline for providing connectivity with the national grid. The Company is also carrying out exploration activities aggressively to explore and evaluate the additional hydrocarbon potential in the area.
June 1, 2022
MPCL Wins 1st Prize for Best Management Practices at 36th Corporate Excellence Awards
MPCL has won the Corporate Excellence Award in the oil and gas sector for the fifth consecutive year. The award was received during the Management Association of Pakistan (MAP) event, at the 36th Corporate Excellence Awards Ceremony, in Karachi. MAP established the Corporate Excellence Award in 1982 to recognize and honor firms that have demonstrated remarkable performance by undertaking advanced and outstanding management practices. MPCL qualified first for the award in 2016-17 (based on dividend pay-out) and since then has been a winner in the Oil & Gas Sector every year.
October 29, 2021
Award of Offshore Block 5 in Abu Dhabi to a Pakistani Consortium
Mari Petroleum, with a consortium of Pakistani companies, Oil and Gas Development Company Limited (OGDCL) and Government Holdings (Private) Limited (GHPL), led by Pakistan Petroleum Limited (PPL), has made a footprint on the energy landscape in the Middle East. With a consortium of Pakistani companies, MPCL has been awarded Offshore Block 5 in the 2019 competitive exploration block bid round by ADNOC in Abu Dhabi. Offshore Block 5 covers an area of 6,223 square kilometers, located 100 kilometers northeast of Abu Dhabi city.
August 31, 2021
The MPCL Annual Report 2020 takes first place in the Best Corporate and Sustainability Report Awards
MPCL Annual Report 2020 secured 1st position at the Best Corporate and Sustainability Report Awards, in the Fuel and Energy category, organized by the Joint Committee of the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP). MPCL has been receiving this award for three consecutive years. This award is a recognition of MPCL’s commitment to best corporate governance practices through the publication of timely, transparent, and detailed annual reports.
August 27, 2021
MPCL Deposits over Rs 3 billion for Community Development Projects in District, Ghotki, Sindh
Mari Petroleum Company Limited (MPCL) has contributed funds to community development projects and deposited over Rs 3 billion (US$18.9 million) with the District Administration of Ghotki on account of Production Bonus and Social Welfare obligations under the Pakistan Petroleum Exploration and Production Policy 2012. Funds will be utilized to execute key development projects in the Mari lease area in and around district Ghotki. These obligations are over and above the substantial voluntary contribution by the company to numerous social welfare projects every year under CSR initiatives.
August 25, 2021
MPCL wins 1st Prize for Best Employment Practices at the 8th Employer of the Year Awards, 2020
MPCL has won the 1st prize for implementing best employment practices in the Medium National Companies category at the 8th Employer of the Year Awards, 2020. The Employers’ Federation of Pakistan organized the ceremony on March 12, 2021, in Karachi. MPCL has bagged this award for the fourth consecutive year. We are proud of providing a safe work environment that is beneficial for talent management and growth. As a result of proactive and employee-friendly policies and practices, MPCL has established itself as an employer of choice for both new and seasoned workers.
March 12, 2021
MPCL has won three prestigious awards at the 13th Annual CSR Summit & Awards 2021
MPCL has won three prestigious awards, i.e., Best CSR Practices and Sustainability Award 2020, Inclusive Education Award, and Sports & Recreational Activities Award at the 13th Annual CSR Summit & Awards 2021, organized by the National Forum for Environment & Health on 25 February, 2021, in Islamabad. The company was also the recipient of a special sponsorship shield/memento. The event is the annual occasion to properly recognize the excellent work done by public and private sector entities to uplift the socio-economic status of the underprivileged masses in the country. It is worth mentioning that MPCL was the only organization to secure several awards at the event.
February 25, 2021
MPCL Wins Top 25 Companies PSX Award for the Year 2019
MPCL has been listed in the Top 25 Companies on Pakistan Stock Exchange for the Year 2019. The Top 25 Companies Awards are one of the most prestigious business recognition awards in Pakistan that were established in 1978 by the Exchange (formerly KSE) to honor the leading companies in the country. MPCL is ranked 11th out of 555 firms, now listed on PSX, based on the scores received in each sector. The company’s great financial performance, superior governance processes, and unequaled Management Team have all been recognized by this award.