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MARI: Brief Intro & Background

Mari Petroleum Company Limited (PSX:MARI) an integrated exploration and production company, currently managing and operating Pakistan’s largest gas reservoir at Mari Gas Field, Daharki, Sindh. MARI is the second largest gas producer in Pakistan and owns the second highest reserves base, and has a 23% market share. The Company’s net daily production is over 100,000 barrels of oil equivalent.  

MARI is key to Urea production in Pakistan.  Around 90% urea production in the Country is based on MARI supplied gas. The Company also supplies gas for power generation and distribution companies.

MARI has grown from the sale of natural gas from an inherited field, to the exploration, production, and sale of gas, oil and other petroleum products from a number of fields in all provinces of Pakistan.

Previously MARI worked under a fixed return formula with a cap on distribution of distribution. That cap on distribution has been removed as per a new agreement with the Govt of Pakistan in 2021.

In the Year 2022 MARI produced, 283,173 MMSCF Natural Gas, 458,509 barrels of Crude oil and 32.2 MT of LPG.

MARI is listed on Karachi Stock Exchange and trades under the PSX Ticker: MARI.
Currently MARI has a market cap of Rs. 200 billion, with 133 million common shares and a free float of 20%

Fauji Foundation own 40% of MARI while OGDC owns a 20% stake.
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