{"id":49718,"date":"2019-02-22T14:48:51","date_gmt":"2019-02-22T09:48:51","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=49718"},"modified":"2019-02-22T14:48:51","modified_gmt":"2019-02-22T09:48:51","slug":"mari-petroleum-invests-usd-45mn-in-oil-gas-exploration-blocks","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/mari-petroleum-invests-usd-45mn-in-oil-gas-exploration-blocks.html","title":{"rendered":"Mari Petroleum invests USD 45mn in oil &#038; gas exploration blocks"},"content":{"rendered":"<p>Karachi: An oil and gas exploration firm, Mari Petroleum Company Limited (MPCL), has acquired <a href=\"https:\/\/www.zameen.com\/news\/govt-to-offer-oil-gas-blocks-for-exploration.html\">two exploration blocks <\/a>in Sindh and the tribal areas, with a financial commitment of USD 45.17 million &#8211; according to a news source.<\/p>\n<p>Previously, the government had <a href=\"https:\/\/www.zameen.com\/news\/10-oil-and-gas-blocks-leased-out.html\" target=\"_blank\" rel=\"noopener noreferrer\">initiated bidding<\/a> for ten exploration blocks. Mari Petroleum submitted bids for Wali West Block in the tribal areas and Taung Block in Sindh. The company sent a statement to the Pakistan Stock Exchange (PSX), revealing these details, along with its minimum bid notification of PKR 45.17 million.<\/p>\n<p>This resulted in the company\u2019s stocks rising by 2.16%, with 17,000 shares having been traded by the day\u2019s end. MPCL will operate Wali West Block as a 100% shareholder while retaining 60% interest in Taung Block.<\/p>\n<p>Currently, this acquisition is subject to the execution of Petroleum Exploration Licences\/Petroleum Joint Concessions and Joint Operating Agreements; as well as the completion of legal formalities in both blocks.<\/p>\n<p>The company aims to add new reserves to Pakistan\u2019s hydrocarbon reserve balance. It has an exploration business plan in place for this purpose.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: An oil and gas exploration firm, Mari Petroleum Company Limited (MPCL), has acquired two exploration blocks in Sindh and the tribal areas, with a financial commitment of USD 45.17 million &#8211; according to a news source. Previously, the government had initiated bidding for ten exploration blocks. Mari Petroleum submitted bids for Wali West Block in the tribal areas and Taung Block in Sindh. The company sent a statement to the Pakistan Stock Exchange (PSX), revealing these details, along with its minimum bid notification of PKR 45.17 million. This resulted in the company\u2019s stocks rising by 2.16%, with 17,000 shares having been traded by the day\u2019s end. MPCL will operate Wali West Block as a 100% shareholder while retaining 60% interest in Taung Block. Currently, this acquisition is subject to the execution of Petroleum Exploration Licences\/Petroleum Joint Concessions and Joint Operating Agreements; as well as the completion of legal formalities in both blocks. The company aims to add new reserves to Pakistan\u2019s hydrocarbon reserve balance. It has an exploration business plan in place for this purpose.<\/p>\n","protected":false},"author":58,"featured_media":44599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[7709,10625],"persona":[],"class_list":{"0":"post-49718","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-oil-and-gas","8":"tag-petroleum"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mari Petroleum invests USD 45mn in oil &amp; gas exploration blocks - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: An oil and gas exploration firm, Mari Petroleum Company Limited (MPCL), has acquired two exploration blocks in Sindh and the tribal areas, with a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/mari-petroleum-invests-usd-45mn-in-oil-gas-exploration-blocks.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mari Petroleum invests USD 45mn in oil &amp; 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