KARACHI: Mari Petroleum Company Limited (MPCL) is pleased to announce that Government of Pakistan has approved the assignment of 44pc working interest in Kalchas South Block (2869-14) to MPCL along with assignment of 46% working interest to United Energy Pakistan Ltd (UEPL).

Further, the operatorship has been transferred to UEPL. The previous operator i.e. Dewan Petroleum Private Limited will retain 10% Working Interest in the Block.

This assignment is a part of Government of Pakistan (GoP) endeavour to boost the exploration activities in the country through revival of revoked petroleum exploration licenses. The block is located in districts Rajanpur (Punjab) and Dera Bugti (Balochistan).

This farm-in is part of MPCL’s aggressive strategy not only to increase its exploration acreage, reserves replacement ratio and maximizing shareholder’s value but to also contribute in meeting Country’s increasing energy demand from indigenous resources and lowering the burden of imported fuels on national economy.

Copyright Business Recorder, 2023