Advertising

Mari Petroleum secures oil & gas exploration licenses over two blocks

Sharan and Killa Saifullah Blocks are located in Killa Saifullah and Zhob districts of Balochistan Province, having a cumulative area of around 4,920 square kilometers, and fall in hydrocarbons prospectivity Zone-I(F).

Print Friendly, PDF & Email

Petroleum Concession Agreements (PCAs) and Exploration Licenses (ELs) over Sharan and Killa Saifullah Blocks were signed on April 23, 2021, among the President of the Islamic Republic of Pakistan through the Ministry of Energy (Petroleum Division), Mari Petroleum Company Limited (MPCL) and Oil and Gas Development Company Limited (OGDCL).

At this moment Secretary Petroleum Division, Mian Asad Hayaud Din, Managing Director/CEO, MPCL Mr. Faheem Haider, and Managing Director/CEO, OGDCL Mr. Shahid Salim Khan signed the agreements. Mr. Hammad Azhar, Minister of Energy, witnessed the PCAs signing ceremony.

The government of Pakistan had provisionally awarded Sharan Block (3067- 7) to MPCL as Operator with 60% working interest and OGDCL as a joint venture partner with 40% working interest, on January 15, 2021. While Killa Saifullah Block was awarded to OGDCL as Operator with 60% working interest and MPCL as a joint venture partner with 40% working interest.

Read More: Mari Petroleum Company awarded four new blocks

It is worth mentioning that MPCL is operating the country’s second-largest gas reservoir at Mari Field, District Ghotki, Sindh. The company is primarily engaged in exploring, developing, and producing hydrocarbon products (natural gas, crude oil, condensate, and liquefied petroleum gas).

On the other hand, OGDCL is also is involved in exploring, drilling, refining, and selling oil and gas in Pakistan. It is the market leader in terms of reserves, production, and acreage.

Sharan and Killa Saifullah Blocks are located in Killa Saifullah and Zhob districts of Balochistan Province, having a cumulative area of around 4,920 square kilometers, and fall in hydrocarbons prospectivity Zone-I(F).

The blocks are located in the frontier areas of Northern Sulaiman and Pishin Basins with good possibilities of medium to high reward hydrocarbon discoveries. This means there is a high chance of finding oil/gas in the area.

MPCL has carved out an aggressive exploration plan of acquiring ~ 600 L.Km 2D seismic data to evaluate the full hydrocarbon potential of the Sharan Block, followed by drilling of exploratory well subject to firming-up of commercially drillable prospect.

MPCL Profile

MPCL has a rich history of growth and operations in Balochistan. The Company entered into the exploration business in 2003 by acquiring its first-ever exploration block namely Ziarat in Balochistan.

MPCL’s current operating portfolio in Balochistan includes three Exploration Licenses i.e. Block 28, Ziarat, Harnai, and Zarghun South a Development & Production Lease (D&PL) whereas non-operated portfolio includes Kalchas, Kohlu, and Bela West Blocks.

Read More: Mari Petroleum launches dastarkhawan to combat hunger in Pakistan

The signing of Sharan and Killa Saifullah PCAs/ELs is a result of Mari Petroleum’s efforts to enhance its exploration portfolio through open bidding in pursuit of adding new oil & gas reserves to the Company’s reserve base, which will result in enhanced indigenous oil & gas production in the country. This could potentially be a solution to decreasing the power bill and ultimately import bill of Pakistan.