ISLAMABAD (PR) – MOL Pakistan has signed a farm?out agreement with Mari Petroleum Company Limited (MPCL) to acquire 30pc interest in the Ghauri exploration block in Pakistan.
MOL has already a well-established presence in TAL Block in KPK and Margala Blocks in northern Pakistan. Ghauri block is a promising exploration opportunity, and lies close to MOL Pakistan’s Margala blocks. Ghauri block is operated by MPCL with 35% interest; the other partner Pakistan Petroleum Limited also has 35% interest. MOL is partner with MPCL in Karak block as well.
Ghauri block is in its first exploration phase and the consortium intends to drill the first exploration well this year. Based on evaluations, the potential hydrocarbon is oil and natural gas. The transaction is subject to the approval of Pakistani government.