The government on Wednesday granted three exploration licences and petroleum concession agreements to Mari Gas Company Limited (MGCL) in Sindh and Balochistan.
The MGCL will invest over $13.625 million in the Sujawal, Harnai and Hanna blocks of Thatta and Badin of Sindh, and Pishin, Ziarat, Loralai, Quetta, Sibi and Kalat of Balochistan, covering an area of 58,000 sq km, says an official statement.
During Phase-I of the initial period of three years, the company will undertake G & G studies, geological fieldwork covering an area of 300 km, acquisition and processing of 300 line km 2D seismic, data purchase and reprocessing of 200 km vintage seismic data, acquisition, processing and interpretation of 200 sq km 3D seismic and drilling of two firm exploration wells. The licences and petroleum concession agreements were signed by Ahmed Waqar, Secretary, Petroleum and Natural Resources, on behalf of the Government of Pakistan, Muhammad Naeem Malik, Director-General Petroleum Concessions and Brigadier (Retd) Tariq Masood Khan Niazi, General Manager of Mari Gas Company Limited (MGCL).
The execution ceremony was also attended by Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon and Muhammad Naseer Khan Mengal, Minister of State for Petroleum and Natural Resources.
MGCL is one of the leading local petroleum companies operating in Pakistan. Its shares are quoted in the recognised stock exchanges of Pakistan with equity interest of 40 percent held by Fauji Foundation and 20 percent each by Government of Pakistan, OGDCL and the general public.
The Company owns and operates the country's second largest gas field, Mari Gas Field, in Ghotki, Sindh. It is also operator of Ziarat, Karak, Sukkur, Noor blocks and has working interests in Zamardan, Kohlu, Kot Sarang, Dadhar, Hala, Nawabshah, Kohat and Bannu west blocks. MGCL is also operator of three mining leases ie Mari Additional and Zarghun South.