News Desk |
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’s exploration and production assets are spread across all the four provinces of Pakistan. The Company enjoys the highest exploration success rate of 72%, much higher than the industry average of 33% (national) and 14% (international). At the same time, it is the most cost-efficient E&P Company in the Country with the lowest operational cost of only 7.7% of the gross sales.
Over the years, this area has seen landmark social welfare initiatives benefitting the communities in the sectors of health, education & communication infrastructure.
In September 2018, Mari Petroleum Company Limited announced the discovery of significant deposits of crude oil in the exploratory well located in Kachhi district of Balochistan. The joint venture of Ziarat Exploration Licence comprising Mari Petroleum as the operator (60%) together with Pakistan Petroleum Limited (PPL)-Europe discovered oil in its exploratory well Bolan East-1 ST-1, which is located near Mach city in Kachhi district of Balochistan.
However, the company is not limited to the oil and gas sector but it also plays a vital role in the uplift of the nation as well.MPCL’s 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: MPCL’s oil discovery in Bolan a success for energy and economy
The Company plays a pivotal role in ensuring food security of Pakistan as around 80% urea production in the Country is based on MPCL supplied gas. Further, the Company contributes approximately 80% of its gross revenues to Government exchequer in the form of various levies and taxes.
CSR remains an ever-evolving and continuous process at the heart of MPCL management that tries its best to accommodate the local needs on a priority basis. In order to ensure the element of continuity and sustainability in our social welfare programs, its CSR philosophy is anchored in the tripartite approach of development; involving the community, local government, and MPCL management.
According to ISPR, the Army Chief expressed these views during his visit to the Head Office Mari Petroleum Company Limited (MPCL) where he was briefed on the company’s management and performance in related fields.
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.
This much was on the mind when the Chief of Army Staff (COAS) when he visited MPCL’s head office earlier this year. Chief of Army Staff General Qamar Javed Bajwa has appreciated contributions of Mari Petroleum Company Limited (MPCL) towards national economy especially its plans for diversifying the business and for contributing back to the society in education and sports.
Read more:Â MPCL receives high esteem from the Chief of Army staff for…
According to ISPR, the Army Chief expressed these views during his visit to the Head Office Mari Petroleum Company Limited (MPCL) where he was briefed on the company’s management and performance in related fields.