Petroleum Concession Agreements (PCAs) and Exploration Licenses (ELs) of Nareli and North Dhurnal Blocks were signed on 13th October, 2021, among the President of the Islamic Republic of Pakistan through the Ministry of Energy, Provincial Representatives and the Exploration and Production Companies, Mari Petroleum Company Limited (MPCL), Pakistan Oilfields Limited (POL) and Spud Energy PTY Limited (SPUD). Secretary Petroleum Division (Dr. Arshad Mehmood), Managing Director/CEO MPCL (Mr. Faheem Haider) and senior level authorized representatives of POL and SPUD signed the agreements. Mr. Hammad Azhar, Minister of Energy, also graced the occasion with his presence. The representatives of Balochistan and Punjab also signed the agreements as witnesses. Government of Pakistan had provisionally awarded Nareli Block (3068-9) to MPCL as Operator with 39pc working interest, POL with 32pc and SPUD with 29pc as joint venture partners on January 15, 2021. While North Dhurnal Block (3372-27) was awarded to POL as Operator with 60pc working interest and MPCL as the joint venture partner with 40pc working interest. Provincial Holding Companies (Balochistan Energy Company Limited for Nareli Block and Punjab Energy Holding Company for North Dhurnal) would have an option for participation in the aforementioned Blocks at a 2.5pc carried working interest. Moreover, Government Holdings (Private) Limited, may opt to have 2.5pc working interest on a full participation basis. Nareli Block covers an area of 2,414.95 sq.km and is located in Harnai, Sibi and Loralai districts of Balochistan, and geologically lies in the Central Indus Basin of Pakistan. This block falls in the hydrocarbon prospectivity Zone-II. The joint venture has committed 1,281 work units in the Nareli Block. North Dhurnal Block covers an area of 56.18 sq.km and is located in the Attock District of Punjab. Geologically, it lies in the Upper Indus Basin of Pakistan and falls in the hydrocarbon prospectivity Zone- I. The joint venture has committed 1,151 work units in the North Dhurnal Block. MPCL has carved out an aggressive exploration plan to evaluate the full hydrocarbon potential of the Nareli Block, which will include acquisition of seismic data and drilling of exploratory wells subject to firming-up of commercially drillable prospect. MPCL has a rich history of growth and operations in Balochistan. The Company entered into exploration business in 2003 by acquiring its first ever exploration block namely Ziarat in Balochistan.MPCL’s current operated portfolios in Balochistan include various Exploration Licenses i.e. Block 28, Ziarat, Harnai, Sharan, and Zarghun South Development & Production Lease (D&PL) whereas non-operated portfolios include Kalchas, Killa Saifullah, Kohlu and Bela West Blocks. Signing of Nareli and North Dhurnal PCAs/ELs is a result of the Company’s efforts to enhance its exploration portfolio through open bidding in pursuit of adding new oil & gas reserves to the Company’s reserve base, which will help in enhanced indigenous oil & gas production in the Country.