Mari Petroleum Gets Exploration License for Mineral Extraction in Balochistan

Mari Petroleum Company Limited (PSX: MARI) has received an exploration license for mineral extraction in Balochistan, the company informed the Pakistan Stock Exchange on Friday. “The Directorate General Mines & Minerals Balochistan has granted an Exploration License (EL-186) and allotted an area of 501 sq. km to Mari Petroleum Company Limited (PSX: MARI) for mineral extraction near Dalbandin, District Chagai, Balochistan,” the filing stated. “This is in line with the MPCL’s strategy to diversify into near core areas and its commitment to contributing to the growth of the mineral mining sector of Pakistan,” the filing added. Mari Petroleum Company Limited is a public limited company incorporated in Pakistan on December 4, 1984, under the repealed Companies Ordinance, 1984. MPCL is principally engaged in the exploration, production, and sale of hydrocarbons. At the time of filing, the company’s scrip at the bourse was Rs. 1,670, up 0.86 percent or Rs. 14.18 with a turnover of 108,476 shares on Friday.