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Sunday, November 26, 2023

Mari Petroleum wins big at Annual CSR Summit & Awards 2021

Mari Petroleum Company Limited wins three prestigious at 13th Annual CSR Summit & Awards 2021.

At the 13th Annual CSR Summit & Awards 2021, organized by the National Forum for Environment & Health on February 25 at Islamabad, Mari Petroleum managed to bag three prestigious awards i.e., Best CSR Practices and Sustainability Award 2020, Inclusive Education Award and Sports & Recreational Activities Award.

The company also received a special sponsorship shield/memento.

CSR Summit was inaugurated by Special Assistant to Prime Minister on Poverty Alleviation & Social Protection Dr Sania Nishtar. Governor Punjab, Chaudhry Muhammad Sarwar and Sardar Masood Khan, President Azad Jammu & Kashmir were the chief guests. Akhuwat Foundation’s founder Dr Amjad Saqib was the distinguished speaker. The Annual CSR Summit/ Awards recognize and acknowledge the efforts and contributions of persons and organizations who have played a vital role in empowerment of society in the field of education, health, environment, socio-economic development and welfare projects.

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 wellbeing of the society and its people. Corporate Social Responsibility has now become an integral part of the organizational ethics and it 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.

Mari Petroleum’s CSR initiatives

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 Petroleum’s profit jumps to Rs7.33b

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.