Mari Petroleum Field was originally owned by Pakistan Stanvac Petroleum Project (PSPP), a joint venture between Government of Pakistan at 49%, and Esso Eastern Incorporated (EEI) at 51% of ownership interest. Production commenced in 1967. In 1983, Fauji Foundation acquired the entire 51% share of EEI. The company commenced business as MPCL in December 1985.
MPCL is a public listed company with an authorized and paid up capital of Rs. 2,500 million and Rs. 367.5 million respectively. Equity share is Fauji Foundation 40%, Government of Pakistan 20%, Oil and Gas Development Company Limited 20% and the general public 20%.
MPCL has the potential to produce 603 MMSCFD gas from its Habib Rahi, Goru-B and Sui Main Limestone reservoirs. This volume has been allocated, by the Government of Pakistan, to M/s Engro Chemical Pakistan Limited, Fauji Fertilizer Company Limited, Fatima Fertilizer Company Limited, Foundation Power Company Daharki Limited, Star Power Generation Limited, Sui Southern Gas Company Limited and WAPDA. Currently, MPCL is producing + 500 MMSCFD gas, the remaining volume of allocated gas will be utilised by IPPs once they are fully commissioned
MPCL started exploration activities in 2001 and has been allocating US $ 20 million per annum for its planned exploration programme. MPCL is the Operator in six exploration blocks, viz., Ziarat, Karak, Sujawal, Sukkur, Hanna, Harnai and two Development and Production Leases, viz., Mari and Zarghun South. MPCL is also a joint venture (JV) partner in six non-operated blocks, viz., Hala, Dadhar, Kohat, Bannu West, Kohlu and Kalchas.
MPCL envisions becoming an international Exploration & Production Company by improving its professional capacity with highly knowledgeable and talented manpower that builds its underground petroleum reserves by discovering more than the ongoing production within Pakistan and abroad, and improving financial capacity and profitability through enhanced production, while taking environmental safeguard and catering the social welfare needs of the communities inhabiting the area of operations.
To enhance Exploration & Production capability by exploiting breakthroughs in knowledge and innovations in technology and by adopting competitive industrial practices of optimal and cost effective operations to replenish the produced reserves by at least 50% and to enhance production for maximizing revenues and return to the stakeholders and to maintain highest standards of HSE and environmental protection.
