Mari Gas Company
 |
|
| Public Limited | |
| Traded as | : MARI |
| Industry | Oil and Gas |
| Founded | December 1984 |
| Headquarters | Islamabad, Pakistan |
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Key people
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CEO, Ishfaq Nadeem Ahmed |
| Products | Oil, Natural gas, Condensate, Liquefied Petroleum Gas |
| Revenue |
 Pak Rs. 96.188 billion (2016) |
| Website |
www.mpcl.com.pk corporate profile |
Mari Petroleum Company Limited (MPCL; formerly, Mari Gas Company Limited) is one of Pakistan’s largest petroleum exploration and production companies, operating the country’s second largest gas reservoir at Mari Field, District Ghotki, Sindh. MPCL is primarily engaged in exploration, development and production of hydrocarbon products (natural gas, crude oil, condensate, and liquified petroleum gas).
In 1957, when MPCL was operating as Esso Eastern Inc., the Mari Gas Field was discovered in Daharki, Sindh, Pakistan, with an original gas in place (GIIP) estimate of 2.38 TCF. Over the years, with the phased development of the Field and subsequent reservoir evaluations, the GIIP of the Field was enhanced to 10.751TCF, thus making Mari one of the largest gas fields in Pakistan in terms of balance reserves.
In May 1983, the Fauji Foundation, a major Pakistani group, along with OGDCL (Oil and Gas Development Company, Ltd.) and the Government of Pakistan acquired the entire business operation of Esso Eastern Inc. in Pakistan, which included the Mari Gas Field.
During December 1984, the business was reorganized and incorporated as Mari Petroleum Company Limited, and it acquired the assets, liabilities and operational control of the Mari Gas Field. MPCL primarily operated as a production company until 1997, when it began the phased development of the Habib Rahi Reservoir to supply gas for new fertilizer plants. The company also simultaneously pursued appraisal activities within its Mari D&P Lease by drilling stepout wells to determine the boundaries of the Habib Rahi Reservoir.
The hallmark of MPCL’s growth and expansion is also represented by its entry into exploration activities in 2001. The Company's current CEO is Ishfaq Nadeem Ahmed.
The Company has the highest well success ratio of any E&P company in Pakistan (1:1.44, or 69.23%) compared to other companies (which average 1:3.3, or 30.1%), and is also the most cost-effective. The company’s operating expenses are 7-8% of its gross sales, while other companies average operating expenses which comprise 21% of their gross sales.
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Wikipedia