Mari Petroleum & Polish oil Co inks MoU

ISLAMABAD: Mari Petroleum Company Limited (MPCL) and PolskieGórnictwoNaftoweIGazownictwo SA (PGNiG) Polish oil & gas Exploration Company on, signed a strategic cooperation initiative for evaluating future potential business opportunities in local & international upstream exploration & production projects.

The MOU for strategic cooperation was signed by Lt-Gen Ishfaq Nadeem Ahmad (Retd), MD/CEO MPCL and Przemyslaw Krogulec, MD, PGNiG at MPCL Head Office Islamabad.

The strategic cooperation between the two oil and gas exploration companies envisages exploring business opportunities in upstream exploration and production projects within and outside Pakistan including farm-in opportunities and pursuit of shale potential in Pakistan.

MPCL is one of the major petroleum exploration and production companies of Pakistan and presently the second largest gas producer of the Country with more than 60 years of rich history. PGNiG is an international upstream company engaged in exploration, development and production of crude oil and natural gas outside Poland.

The two companies recognized that they have strong financial capabilities with a robust operational background, technical knowledge and industry experiences to embark upon the joint ventures of potential local and international upstream growth synergies and possible co-venture opportunities.

Expressing his views, Krogulec said that PGNiG, as a Polish oil & gas company, holds both Pakistan and MPCL in high regards based on brotherly relations between the two countries. Considering MPCL’s integrated E&P capabilities, proactive presence in Pakistan’s exploration and production activities, PGNiG is looking forward to pursuing the potential opportunities with MPCL.

Besides the two Managing Directors of MPCL & PGNiG, management employees from higher management of both companies witnessed the MOU signin