LAHORE: Mari Petroleum Company Limited (MPCL) has entered into an agreement with three major fertiliser companies in Pakistan to maintain MPCL’s Habib Rahi Limestone (HRL) gas production to the three big Fertiliser manufacturers including Fauji Fertilizer Company (FFC), Fatima Fertilizer Company Limited (FATIMA), and Engro Fertilizers Limited (EFERT). All the four parties involved made individual announcements to the Pakistan Stock Exchange (PSX) on Friday.
MARI’s notice read, “Mari Petroleum Company Limited (MPCL) has executed a Framework Agreement for the installation of Pressure Enhancement Facilities (PEF) at Mari Gas Field, Daharki, Sindh with FFC, ENGRO, and FATIMA.”
The Project will involve construction of pipeline infrastructure, optimising surface pipeline network, and installation of compressors within the Mari Field.
According to industry insiders, the gas pressure in Mari’s gas field in Daharki has been decreasing for some time. In order to ensure the uninterrupted supply of gas, the big fertiliser businesses agreed to install compressors which would help maintain their gas needs for the next few years at least. The project is expected to be done over a period of time and it would need capital investments from all the parties involved. Although an exact cost is hard to predict, it can cost over RS 10 billion.
The share price of the four companies remained relatively stable on the PSX on Friday.
Mari Petroleum has seven oil and gas fields of which Mari Field Daharki in Sindh is their one and only gas field. It currently has 152 wells. The Mari Gas Field in Daharki, District Ghotki, Sindh is approximately 96 kilometres North of Sukkur. It was first discovered in 1957 by ESSO Eastern and gas was found at a depth of 701 metres (2300 feet) in Lower Kirthar Limestone formation which came to be known as Habib Rahi Limestone as we know of it today. Production of natural gas commenced in 1967.
In 1983, Fauji Foundation, Government of Pakistan (GoP), and Oil and Gas Development Company Limited (OGDCL) acquired the entire operations of ESSO including the Gas Field. The new company was called Mari Gas Company Limited which was renamed to Mari Petroleum Company Limited (MPCL) in 2012.
Discovery of gas by MPCL in KP
Earlier this year in June, MPCL announced a huge gas discovery at the Bannu West-1 well, located in North Waziristan district, Khyber Pakhtunkhwa. The discovery of gas was one of the largest such discoveries in the country’s history and the first ever in North Waziristan. It is expected to go a long way in meeting the country’s energy demands from local resources resulting in major dollar savings in the country’s ever-increasing import bill.
we have to overcome shortage of energy crisis, So in Pakistan we have produce our sources Mari Gas is taking step and they sign more and more agreements with other production companies. Mari Gas keep it up