ISLAMABAD: Mari Petroleum Company Limited [MPCL], one of Pakistan’s largest integrated petroleum exploration and production companies, has deposited over PKR 3 Billion (USD 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 PKR 2,601 Million [USD 15.8 Million] and PKR 522 Million [USD 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 Rs 2.2 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 and establishment of Noor-E-Sehar Special Education School, Daharki and building of road infrastructure are some of the key initiatives which demonstrate MPCL’s commitment towards the communities where it operates.
MPCL, with its countrywide presence and operating various exploration licenses and development and production leases across Pakistan, is the 2nd largest gas producer in the Country with an average daily production of 770 MMSCFD.
MPCL plays a pivotal role in ensuring the food security of Pakistan as more than 90% of urea production in the Country is based on MPCL supplied gas, resulting in estimated foreign exchange savings of around USD 2 billion per year. The Company also supplies gas for power generation and domestic consumers.
During the last five years, MPCL has contributed over Rs 219 billion to the national exchequer in the form of various levies, duties and taxes.
MPCL aims to continue its efforts by investing significantly to extend the economic life of the Mari field in the greater national interest. Furthermore, production enhancement of Sajawal field and exploration activities in Taung and Sukkur Blocks are ongoing at a fast pace. In partnership with the Sindh Government, local district administration and public representatives, MPCL is fully committed to bringing a meaningful change in the lives of local communities, residing in the vicinity of our operational areas.–PR
Copyright Business Recorder, 2021
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