Significant Achievements

Gas Discovery at Shewa-2 Well in Waziristan Block – KP Province

MPCL has achieved remarkable success at the Shewa-2 appraisal-cum-exploratory well, located in the North Waziristan district, Khyber Pakhtunkhwa Province.

The well was drilled to test the hydrocarbon potential of the well’s exploratory targets i.e. Samanasuk and Kawagarh formations as well as appraise the Lockhart and Hangu formations, which were previously discovered at exploratory well Shewa-1.

During the Drill Stem Test carried out in the Kawagarh formation (exploratory target), gas flowed at a sustainable rate of 0.607 MMSCFD at WHFP of 97 Psi at 32/64-inch choke size.

Further, the appraisal of the Lockhart and Hangu formations confirmed the extension of hydrocarbon play in these formations. The Lockhart formation was tested at a gas flow rate (post-acid) of 51 MMSCFD and 391 barrels of condensate per day at WHFP of 5,972 Psi at 38/64-inch choke size. The Hangu formation was also tested at a gas flow rate of 0.274 MMSCFD at WHFP of 77 Psi at 32/64-inch choke size.

Mr. Faheem Haider, Managing Director/CEO of MPCL has commended the hard work and ingenuity of the Company’s geoscientists and support teams who worked relentlessly on this project in a challenging, security-sensitive area and produced this fantastic result for the company and the country.

Mr. Waqar Ahmed Malik (SI), Chairman MPCL Board of Directors has congratulated the management on this remarkable success and appreciated the MPCL’s contributions towards the energy security of the Country through its exploratory efforts.

MPCL is the operator of Waziristan Block with 55% working interest along with OGDCL and OPI as joint venture partners having 35% and 10% working interest, respectively.

MPCL Discovers Gas at Mari Ghazij-1 Well Located In Mari D&PL, Sindh Province

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 multiple Ghazij Limestone units. The concept emerged from Iqbal-1 well wherein a thin limestone unit in Ghazij Formation was found to make minor contribution of ~0.5 MMSCFD to the flow. Based on that, the Limestone units within Ghazij Formation were thoroughly studied in the entire Mari D&PL area to ascertain their reservoir potential and deliverability in the play sweet spot that has been successfully proven through Mari Ghazij-1 discovery.

The Company has plans to carefully appraise this discovery to prove its extent and, in parallel, evaluate its development options.

With around 23% gas market share, MPCL is contributing towards mitigating the declining gas production in the Country, through a combination of maximizing production from current fields and discovering new resources via aggressive exploration strategy, targeting high grade prospects within the Company’s portfolio.

Mr. Faheem Haider, MD/CEO MPCL has commended the hard work and ingenuity of MPCL technical and support teams who worked on this project of national importance and made it a success.

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

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

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.

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.

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.

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.

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.

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.

THE COMPANY

Being one of the largest petroleum exploration and production companies in Pakistan, we visualize the earth as something beautiful and mysterious, for it has so many secrets to reveal.

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Contact Information for investor related queries / grievances:
Mr. Muhammad Sajjad (Acting Company Secretary)
Tel: +92-51-111-410-410 (Ext. 483), Email: Muhammad.Sajjad@mpcl.com.pk