MPCL awarded 4 new exploration blocks : vimarsana.com

MPCL awarded 4 new exploration blocks


MPCL awarded 4 new exploration blocks
Business
January 28, 2021
KARACHI: The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded four new exploration blocks to Mari Petroleum Company Limited (MPCL) in the latest block bidding round, the company announced on Wednesday.
MPCL has been awarded two blocks as the operator and two as the joint venture partner with other local companies.
The blocks have been awarded after competitive bidding based on work units committed by different E&P companies, in the Block Bidding Round 2020 arranged by the government.
MPCL will hold 39 percent working interest as the operator with partners Pakistan Oilfields Limited (POL) having 32 percent and Spud Energy having a 29 percent stake in Nareli Block in Balochistan.

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