In a move aimed at promoting sustainable industrial practices, Mari Energies Limited and Ghani Chemical Industries Limited (GCIL) have agreed to jointly evaluate the feasibility of processing vent gas from the Sachal Gas Processing Complex in Daharki, Sindh.
Mari Energies, formerly called Mari Petroleum Company Limited, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“We are pleased to inform you that Mari Energies Limited and Ghani Chemical Industries Limited have signed a term sheet under which both the companies will collaborate and evaluate the feasibility of processing vent/exhaust gas from the Sachal Gas Processing Complex (SGPC), Mari Field, Daharki, Sindh,” read the notice.
The E&P said that the project is part of its endeavours towards sustainability and reducing greenhouse gas emissions.
“Subject to technical and commercial feasibility, a joint venture agreement shall be entered into for establishing a project company to jointly execute the project,” it added.
Mari Energies reappoints Lt-Gen Anwar Ali (retd) as chairman
Mari Energies is the country’s second-largest producer of natural gas. It is an integrated oil and gas E&P company with an exploration success rate of around 70%, which is significantly higher than the industry averages of approximately 30% nationally and 14% internationally.
The company operates Pakistan’s largest gas reservoir at Mari Gas Field, Daharki, Sindh.
Meanwhile, GCIL is engaged in the manufacturing, trading & sale of medical and industrial gases and chemicals.
Comments
Comments are closed for this article.