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Sunday, June 30, 2024

ECC expected to approve allocation of gas to SSGC from Mari Petroleum Wells

It is anticipated that federal cabinet’s Economic Coordination Committee (ECC) will approve allocation of around 22 million cubic feet per day (mmcfd) gas to the Sui Southern Gas Company Ltd (SSGCL) from three different gas fields of Sujawal block.

As claimed by sources, ECC is expected to approve allocation of around 22 million cubic feet per day (mmcfd) gas to SSGCL from Mari Petroleum wells on the request of the Petroleum Division. The Petroleum Division has asked the committee to approve the allocation of up to 15mmcfd gas from Sujawal-1, up to 3mmcfd has from Sujawal-X-1 and up to 4mmcfd gas from Aqeeq-1 to SSGC.

Mari Petroleum Company, a joint venture of the government and the Fauji Foundation company holds 100 percent working interest and is the operator of the Sujawal block since June 2006. It is important to note that MPCL made discoveries (Sujjal-1, Sujawal X-1, and Aqeeq-1) in district Sujawal, Sindh.

Read More: Mari Petroleum: The best company in Pakistan

The significant gas discovery with estimated reserves of about 20 billion cubic feet (BCF) in Sujawal district of Sindh was announced by MPCL in the year 2014. The discovery was noteworthy because it was the first hydrocarbon discovery in Lower Goru Upper C-Sand in the southernmost part of the country. The first exploration well was drilled in Sujawal X-1, in 2010, which resulted in this gas and condensate discovery. The Sujjal Discovery was a new source of energy supply and contributed to the nation’s hydrocarbon reserve base, consequently bringing down the gap between the energy demand and supply.

Mari Petroleum not Restricted to the Oil and Gas Sector

With the climate change becoming more and more prominent with time, it is a challenge to create a world that is cleaner and healthier for both present and posterity. Keeping in mind the omnipresence of gas and oil, it is difficult not to believe that this industry has a direct or indirect impact on everything that surrounds us. The growth and prosperity of a corporation cannot be measured only in terms of pecuniary profits. It is equally important to evaluate the contribution that it makes towards the well being of the society and its people. Corporate Social Responsibility has now become an integral part of the organizational ethics and it has resulted in increased expectations of what the companies owe to the society. There has been a commendable growth of ethical codes of conduct in corporations and social reporting. In Pakistan, Mari Petroleum Company has embraced major CSR initiatives and is investing huge sums on the development of local communities.

Read More: Mari Petroleum Wins 1st Prize for Management Practices in Oil & Gas Sector

Looking at the energy and oil sector of Pakistan, it is hard to miss Mari Petroleum Company Limited (MPCL). With 18% market share, Mari Petroleum is the second largest gas producer in the Country with cumulative daily production equivalent to 100,000 barrels of oil. It is operating the country’s second-largest gas reservoir at Mari Field, District Ghotki, Sindh. MPCL is primarily engaged in the exploration, development, and production of hydrocarbon products (natural gas, crude oil, condensate, and liquified petroleum gas).

The company, however, is not just focusing on the oil and gas sector and is also playing an active role to lift up the nation. The goal of MPCL is to integrate social and environmental concerns in their business operations and interactions with their stakeholders. Its CSR strategy is an integral part of the Company’s culture and reflects continuing commitment of its business to contribute towards the well-being & quality of life of the workforce, local community and society at large.

Read More: Mari Gas: The oil & gas giant helping build a better nation

The company is currently playing an essential part in ensuring food security in Pakistan as approximately 80% urea production in the country is based on MPCL supplied gas. Around 80% of its gross revenues go the national kitty in the form of various levies and taxes. In addition to statutory CSR obligations, MPCL is spending a substantial portion of its profits to develop a healthy, resilient and civilized society. As per Petroleum Concession Agreement (PCA), MPCL is under no CSR obligation at Mari Field Daharki. However, MPCL has been spending huge amount annually on social welfare activities in Mari D&P lease area since inception. Over the years, this area has seen landmark social welfare initiatives benefitting the communities in the sectors of health, education & communication infrastructure.