MARI, UEPL secure 44%, 46% working interest in Kalchas South Block

MG News | July 20, 2023 at 01:17 PM GMT+05:00

0:00

July 20, 2023 (MLN): The management of Mari Petroleum Company Limited (PSX: MARI) has announced that the government has approved the assignment of 44% working interest in Kalchas South Block (2869-14) to MPCL along with the assignment of 46% working interest to United Energy Pakistan Ltd (UEPL), the company’s filing on the PSX revealed today.

To note, Kalchas South Block (2869-14) is located in districts Rajanpur (Punjab) and Dera Bugti (Balochistan).

The notice further states that the operator’s hip has been transferred to UEPL.

“The previous operator, Dewan Petroleum Private Limited (DPL) will retain a 10% Working Interest in the Block,” it reads.

The company is principally engaged in the exploration, production, and sale of hydrocarbons.

MARI has conveyed the aforementioned information in accordance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 (a) of the PSX Regulations.

At the time of writing, the share of the company is being traded at Rs1,542, up by 11.19 or 0.73% on the day.

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