History
Mari Energies origins goes back to 1957, when Esso Eastern Inc. discovered Mari gas field in Daharki, Ghotki District, Sindh, Pakistan, with an original gas in place (GIIP) estimate of 2.38 TCF. Over the years, with the phased development of the field and subsequent reservoir evaluations, the GIIP of the Field was enhanced to 10.751TCF, thus making Mari one of the largest gas fields in Pakistan in terms of balance reserves. [2]
In May 1983, the Fauji Foundation acquired a majority stake in Mari Gas during the military regime of Zia-ul-Haq. Other shareholders included Oil & Gas Development Company and the Government of Pakistan which they acquired from Esso Eastern Inc. In December 1984, it was reorganized and incorporated as Mari Gas Company Limited, and it acquired the assets, liabilities, and operational control of the Mari gas field. [2]
In 1994, Mari Gas was listed on the Karachi Stock Exchange, following an initial public offering at PKR 25 per share. [3]
Mari Gas primarily operated as a production company until 1997, when it began the phased development of the Habib Rahi Reservoir to supply gas for new fertilizer plants. The company also simultaneously pursued appraisal activities within its Mari D&P Lease by drilling step out wells to determine the boundaries of the Habib Rahi Reservoir. [2]
In 2001, Mari Gas enter exploration activities. [4] [5] A year later, in 2002, Mari Gas, Total, and their contracting partners—Petronas, OMV, and the Oil and Gas Development Company—signed Pakistan's first-ever Production Sharing Agreements (PSAs) with the Government of Pakistan. [6]
In November 2012, Mari Gas Company was rebranded as Mari Petroleum Company Limited. [7] Initially operating under a cost-plus tariff structure, its pricing mechanism was revised in 2014-2015 to align with international crude oil prices. [8] In January 2025, the company underwent another transformation, adopting the name Mari Energies Limited. [9]
National Resources Limited
National Resources Limited (NRL) is created as joint venture to involve in among other things, exploration, survey, extraction, excavation, mining and sale of produced minerals. [2] Y.B. Pakistan, Arif Habib Equity, Liberty Mills, and Reliance Commodities are the Joint Venture partners. Each will have 20% share. [2]
This page is based on this
Wikipedia article Text is available under the
CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.
Rs. 181.83 billion (US$630 million) (2024)
