Mari Petroleum Company Limited (MPCL), one of Pakistan’s largest integrated petroleum exploration and production companies, on Monday announced the commencement of the first gas from the Tipu compartment of “Goru B” reservoir of the Mari gas field.
“Initially, approximately 20 mmscfd of pipeline quality gas will be supplied to Sui Northern Gas Pipelines Limited (SNGPL) after processing at MPCL’s newly constructed Sachal Gas Processing Complex (SGPC) located in District Ghotki, Sindh,” MPCL said in its filing to the Pakistan Stock Exchange (PSX).
MPCL informed that the gas export will take place via MPCL’s self-constructed, newly-built 25 km long cross country gas transmission pipeline.
MPCL deposits over Rs3bn with Ghotki district administration
“The construction and commissioning activities of the remaining phases of the project are progressing satisfactorily aiming completion during the current year,” said MPCL.
With a 21% market share, MPCL is the second-largest gas producer in Pakistan and owns the second-highest reserves base.
Earlier this month, it was learnt that the government is likely to allocate 16 mmcfd from Togh Field (Kohat) to Sui Northern Gas Pipelines Limited (SNGPL) on a commercial basis.
The Togh Field, governed under Kohat Petroleum Concession Agreement (PCA), is located in district Kohat of Khyber Pakhtunkhwa. The Kohat Joint Venture (JV) comprises Oil and Gas Development Company Limited (OGDCL) with 50% share as an operator, Mari Petroleum Company Limited (MPCL) with 33.33% share and Saif Energy Limited with 16.67% share.
As per MPCL’s latest financials, the Profit After Tax (PAT) of the company stood at Rs31,444 million in 2020-21 as compared to Rs30,312 million recorded in 2019-20. Whereas, the company’s reserves also improved from Rs91,815 million in 2019-20 to Rs114,199 million in 2020-21.
Comments
Comments are closed for this article.