Mari executes contract with MOL for acquisition of working interest in Margala Block

MG News | July 19, 2021 at 10:30 AM GMT+05:00

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July 19, 2021 (MLN): Mari Petroleum Company Limited (MPCL) has executed a farm-in agreement with MOL Pakistan Oil and Gas Co. B.V. for the acquisition of a significant working interest in Margala Block to collaborate resources and efforts to jointly perform exploration activities.

The Block is situated in the Potwar Basin in the vicinity of Islamabad. The assignment of working interest shall be subject to Government approval.

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 meet the Country's increasing energy demand from indigenous resources and lowering the burden of imported fuels on the national economy, MPCL in a notification to PSX said.

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