ISLAMABAD: Mari Petroleum Company Limited (MPCL), one of Pakistan's largest integrated petroleum exploration and production companies, has deposited over Rs3 billion (US$18.7 million) with the District Administration Ghotki on account of Production Bonus and Social Welfare obligations in accordance with Pakistan Petroleum Exploration and Production Policy 2012.
After the signing of the Supplemental Agreement to the Mari PCA in April 2021 (effective December 2015), the conversion of Mari D&P Lease to 2012 Petroleum Policy has been formalized, therefore MPCL has deposited Rs2,601 million [US$15.8 million] and Rs522 million [US$3.1 million] pertaining to Production Bonus and Social Welfare obligations respectively. These amounts will be spent on key projects in the Mari lease area in, and near district Ghotki, Sindh.
These obligations are over and above the substantial amounts spent by the Company voluntarily on numerous social welfare projects every year under its CSR initiatives. The company has spent over Rs2.2 billion in Sindh province on such CSR activities. Provision of health services through Mari medical complex, field and mobile dispensaries, TB Clinic, Mother & Child Care Centre, Medical camps etc.-PR
Copyright Business Recorder, 2021
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