Mari Petroleum Co. Ltd. (MPCL) executed a farm-in agreement with MOL Pakistan Oil and Gas Co. BV to acquire interest in Pakistan’s Margala block “to collaborate resources and efforts to jointly perform exploration activities,” the company said in statement July 19.
The 1,847 sq-km block lies in the Potwar Basin in the vicinity of Islamabad.
While specific interest holdings were not disclosed, MPCL said it will become a “significant” working interest owner in the petroleum concession agreement of the block along with Pakistan Oilfields Ltd. MOL Pakistan remains operator.
The agreement is subject to government approval.
