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Mari Energies
Pakistani energy company based in Islamabad From Wikipedia, the free encyclopedia
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Mari Energies Limited, formerly Mari Petroleum Company Limited, and commonly known as Mari (Urdu pronunciation: [ˈmaː.ri] MAH-ree), is a Pakistani energy company based in Islamabad. It is controlled by the Fauji Foundation, which holds a 40 percent stake. It primarily operates in exploration, development and production of hydrocarbon products (natural gas, crude oil, condensate, and liquefied petroleum gas). It is listed and traded on the Pakistan Stock Exchange.
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History
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Mari Energies' origins go back to 1957, when Esso Eastern Inc. discovered Mari gas field in Daharki, Ghotki District, 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 10.751 TCF, thus making Mari one of the largest gas fields in Pakistan in terms of balance reserves.[2]
In May 1983, the Fauji Foundation acquired a majority stake in Mari Gas during the military regime of Zia-ul-Haq. Other shareholders included Oil & Gas Development Company and the Government of Pakistan which they had acquired from Esso Eastern Inc. In December 1984, it was reorganized and incorporated as Mari Gas Company Limited, and it acquired the assets, liabilities, and operational control of the Mari gas field.[2]
In 1994, Mari Gas was listed on the Karachi Stock Exchange, following an initial public offering at PKR 25 per share.[3]
Mari Gas 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 step out wells to determine the boundaries of the Habib Rahi Reservoir.[2]
In 2001, Mari Gas entered exploration activities.[4][5] A year later, in 2002, Mari Gas, Total, and their contracting partners—Petronas, OMV, and the Oil and Gas Development Company—signed Pakistan's first-ever Production Sharing Agreements (PSAs) with the Government of Pakistan.[6]
In November 2012, Mari Gas Company was rebranded as Mari Petroleum Company Limited.[7] Initially operating under a cost-plus tariff structure, its pricing mechanism was revised in 2014-2015 to align with international crude oil prices.[8] In January 2025, the company underwent another transformation, adopting the name Mari Energies Limited.[9]
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Operated blocks
- Mari D&P Lease; MPCL has 100% working interest
- Zarghun South D&P Lease; MPCL has 35% working interest
- Sujawal Block; MPCL has 100% working interest[10]
- Peshawar East; MPCL has 98.2% working interest
- Ziarat Block; MPCL has 60% working interest[10]
- Ghauri Block; MPCL has 35% working interest [11][10]
- Karak Block; MPCL has 60% working interest [12][10]
- Sukkur Block; MPCL has 58.8% working interest[10]
- Harnai Block; MPCL has 40% working interest[10]
- Bannu West Block; MPCL has 35% working interest
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Non-operated blocks
- Hala Block; MPCL has 35% working interest
- Kohlu Block; MPCL has 30% working interest
- Kalchas Block; MPCL has 20% working interest
- Kohat Block; MPCL has 20% working interest
- Shah Bandar Block; MPCL has 32% working interest
National Resources Limited
National Resources Limited (NRL) is created as joint venture to involve in among other things, exploration, survey, extraction, excavation, mining and sale of produced minerals.[2] Y.B. Pakistan, Arif Habib Equity, Liberty Mills, and Reliance Commodities are the Joint Venture partners. Each will have 20% share.[2]
References
External links
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