Latest news with #MariEnergies
Express Tribune
24-05-2025
- Business
- Express Tribune
New onshore block awards deepen ties with Turkiye
Listen to article Federal Minister for Petroleum Ali Pervaiz Malik met with Irfan Neziroglu, Ambassador of Turkiye to Pakistan, on Friday to discuss expanding cooperation in the energy sector, including oil and gas exploration and collaboration in critical minerals. The meeting, held at the Ministry of Petroleum, also touched upon the evolving geopolitical environment and diplomatic ties between the two countries. According to an official statement, the petroleum minister conveyed appreciation for Türkiye's continued diplomatic support to Pakistan, particularly during its recent tensions with India. He said the bond between the two countries had endured over time, strengthened by shared history and strategic alignment. Malik relayed Prime Minister Shehbaz Sharif's gratitude, stating that President Erdogan's vocal support reflects the depth of the Pakistan-Türkiye relationship. Neziroglu echoed these sentiments, describing the relationship as a "time-tested brotherhood." He praised Pakistan's handling of recent geopolitical challenges. Discussions focused on energy cooperation, with emphasis on joint ventures, technology transfer, and resource development. Malik noted that Türkiye's state-owned Turk Petrolleri Anonim Ortakligi (TPAO) had been provisionally awarded two onshore blocks in Pakistan in the latest bidding round held on May 13, 2025. One block, Ziarat North in Balochistan, includes JV partners MariEnergies (33.16%, operator), OGDCL (24.87%), PPL (24.87%), TPAO (10%), and GHPL (7.10%). The second, Sukhpur-II in Sindh, was awarded to a JV comprising Prime (25%, operator), OGDCL (30%), MariEnergies (30%), and TPAO (15%). TPAO has also signed a Joint Bidding Agreement with a consortium of Pakistani firmsMariEnergies, OGDCL, and PPLfor participation in the upcoming Offshore Bid Round 2025.
India.com
29-04-2025
- Business
- India.com
Gold reserves, precious stones, and minerals: Where are Pakistan's 'trillion-dollar' resources hidden?
Gold reserves, precious stones, and minerals: Where are Pakistan's 'trillion-dollar' resources hidden? Pakistan's resources: In the dry and dusty Chagai region of Pakistan's Balochistan province, some of the world's most valuable mineral resources are hidden. These include large amounts of copper and gold. Pakistan's political and military leaders believe these resources can attract billions of dollars in investment. After the discoveries at Reko Diq and Saindak, there are now new claims of more mineral findings in Chagai. A private company, National Resources Limited (NRL), which has the contract for mineral exploration in Chagai, says they have found new reserves of gold and copper in the area. At the 'Pakistan Minerals Investment Forum 2025' held last week, NRL shared that signs of minerals have been found in the 'Tang Ghor' area of Chagai. NRL's head, Muhammad Ali Tabba, said international experts and investors will also join this big project. During the same event, Mari Energies claimed they discovered new gas and oil reserves in North Waziristan, located in Khyber Pakhtunkhwa. According to them, this is the fourth discovery in that area. In testing, it produced 70 million cubic feet of gas and 310 barrels of condensate daily. Over the two-day conference, Pakistani and Turkish state companies signed an agreement to work together for offshore oil and gas exploration. Under this agreement, Pakistan's Mari Energies, OGDCL, and PPL will work with Turkey's state company to explore the sea areas. Officials say these resources stayed untapped because of administrative problems, security issues, and lack of focus by political leaders. However, last week, the government once again promised to use these resources to boost Pakistan's economy. The 'Minerals Conference' in Islamabad saw participation from over twenty countries, including the US, China, and Saudi Arabia. Investors and delegates attended to explore Pakistan's mineral sector, which the government is calling a 'trillion-dollar sector'. The aim of the conference was to present Pakistan as an important global player, especially in critical minerals. Senior government and military leaders called the conference a 'milestone' for the economy. But critics say that this is not the first time Pakistan has promised to turn 'stones into gold'. Before discussing if these promises will happen, it's important to understand what minerals Pakistan has and where they are found. Where are minerals found in Pakistan? Pakistan divides minerals into different categories. Strategic minerals include copper, gold, lithium, rare earth minerals, and chromite. These are used in electronics, defense, and green technology, making them highly valuable for security and investment. Energy minerals like coal and uranium are important for electricity and nuclear programs. Industrial minerals such as salt, limestone, gypsum, and barite are needed for construction and farming. Precious stones are small but valuable and help earn money from exports. Balochistan: The mineral hub Balochistan, though troubled, holds large and important mineral resources, because of this, it is often called 'Pakistan's mineral center'. In the 1970s, the Geological Survey of Pakistan (GSP) discovered copper and gold at Reko Diq and Saindak. Several decades ago, GSP also found signs of gold reserves in Chagai. However, the project got stuck because of legal and economic problems. Now, under Canadian company Barrick Gold's leadership, work has started again to extract minerals from the area. In late 2022, a new agreement was signed. Under it, the Balochistan government will have a 25% share, the federal government 25%, and Barrick Gold 50%. Barrick Gold promised to invest in the project and start production by the end of this decade. Officials now hope that production will start by 2028. According to local media, Saudi company Manara Minerals may also invest here. Barrick Gold's CEO, Mark Bristow, said that after the second phase of Reko Diq is complete, the site could produce 400,000 tons of copper every year. He also said the growing global need for copper, for electric vehicles, green energy, and electricity, can bring great economic benefits to Pakistan. The Saindak project, which started after copper and gold were discovered there in 1973, was Pakistan's first major mining project. It is estimated that Saindak has several hundred million tons of raw material. A Chinese company currently operates the project. Balochistan not only has copper and gold but also many other minerals. In the Muslim Bagh region of Qila Saifullah, chromite has been mined for centuries. Chromite is important for making stainless steel. Recently, claims have been made about the presence of lithium and rare earth minerals in Chagai and Khuzdar. The government considers these minerals critical for the future. In the 1960s, GSP found large reserves of barite in Khuzdar. Barite is used in oil and gas drilling. The same rock formations also have fluorite deposits near Kalat and Mastung. In Lasbela, Pakistan's first modern lead and zinc mine is located, discovered by GSP and developed with Chinese support. Coal is also found in Sore Range-Degari, Dukki, Mach, and Khost areas of Balochistan. Though these coal reserves are smaller and less powerful than those in Punjab and Sindh, they have supported local industries and railways for decades. They also provide jobs to thousands of workers. However, many local people complain that they do not get a fair share of the wealth and accuse the authorities of hiding details about the projects. These complaints have led to unrest and anger in Balochistan. Precious stones in Khyber Pakhtunkhwa At the minerals conference held last year, the government also claimed that large reserves of gas and minerals have been found in Khyber Pakhtunkhwa. Mining is expected to start soon. However, a new 'Mines and Minerals Bill' about this province created controversy. A scheduled briefing on the bill was postponed on the orders of former Prime Minister Imran Khan. Both the ruling Pakistan Tehreek-e-Insaf (PTI) and opposition parties have raised concerns about this bill. Swat, a district in Khyber Pakhtunkhwa, is famous around the world for its emeralds. These beautiful green stones are highly valued in jewelry. Even today, locals search the riverbeds to find shining emeralds.
Yahoo
09-04-2025
- Business
- Yahoo
Türkiye's TPAO partners with Pakistani companies for offshore oil and gas exploration
Türkiye's state-owned Turkish Petroleum (TPAO) has partnered with three Pakistani national energy companies to bid in Pakistan's offshore oil and gas exploration tender. This collaboration marks a strategic energy move for both nations. The agreement was signed during an official visit to Islamabad by Turkish Energy Minister Alparslan Bayraktar, who attended the Pakistan Mining Investment Forum. Minister Bayraktar highlighted the importance of value-added mining and environmentally sensitive practices to attract investment. He noted that Türkiye is working on a reform package to facilitate mining investments by streamlining permit processes. The joint bidding agreement involves Turkish Petroleum and Pakistan's national oil companies Mari Energies, OGDCL and PPL. Pakistan plans to bid for 40 sea exploration blocks by 30 June 2025, with 14 in the Makran offshore basin and 26 in the Indus offshore basin. The four companies will jointly bid for selected blocks. "This step will deepen the strategic energy partnership between Türkiye and Pakistan and will also be an important threshold for regional energy security. I wish the agreement to be beneficial for the two countries in advance," Bayraktar stated. In July last year, Türkiye signed an agreement granting exclusive rights to explore and produce hydrocarbons in three blocks in Somalia, covering a combined area of 5,000km². Russia and Pakistan are also exploring potential cooperation in offshore oil and gas exploration and refining, following intergovernmental meetings in December 2024 in Moscow. Discussions included Russia potentially supplying Pakistan with crude oil and grain as part of efforts to strengthen energy ties. Since 2022, Russia has regularly supplied oil to Pakistan after the EU embargo on Russian energy products. In a related development, MariEnergies has struck oil at the Shawal-1 well at its fully owned Mari Development & Production Lease in Sindh Province, Pakistan. The company successfully drilled the well to a depth of 1,136m at the Ghazij Formation. "Türkiye's TPAO partners with Pakistani companies for offshore oil and gas exploration" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Express Tribune
08-04-2025
- Business
- Express Tribune
Pakistan, Turkiye agree on joint oil, gas bids
Listen to article In a significant development, Pakistan and Turkiye have agreed on forging cooperation in oil and gas exploration, which came on the sidelines of Pakistan Minerals Investment Forum 2025. Pakistan and Turkiye signed a joint bidding agreement, according to which they would jointly participate in offshore bidding round to be conducted by Islamabad. In February 2025, the government of Pakistan announced an offshore block bid round, offering 40 blocks in Makran and Indus basins for exploration licences. This bid round is a significant opportunity for attracting foreign direct investment (FDI) in the upstream energy sector. "We are pleased to announce that reputable Pakistani E&P (exploration & production) companies, Mari Energies, Oil & Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL), have signed a joint bidding agreement with Turkish state-owned enterprise Turkiye Petrolleri Anonim Ortakligi to jointly participate in the offshore bid round," said a statement issued on Tuesday. "We believe that this strategic collaboration will bring much-needed FDI to Pakistan and pave the way for sharing and deploying international technologies, expertise and skillsets to explore and exploit the untapped potential of Pakistan's offshore region." While meeting Turkish Minister for Energy and Natural Resources Alparslan Bayraktar, Pakistan's Petroleum Minister Ali Pervaiz Malik expressed high hopes for bilateral cooperation. He remarked that seismic studies indicated significant offshore reserves and Pakistan was committed to providing full support and encouraging collaborative efforts to explore the potential. Copper, gold discovered Separately, while speaking to participants at the Pakistan Minerals Investment Forum, National Resources Limited (NRL) Chairman and Lucky Cement CEO Muhammad Ali Tabba announced that NRL had discovered significant copper-gold reserves in Chagai, Balochistan. NRL, a 100% privately owned company of Pakistan and a subsidiary of Fatima Fertiliser, Liberty Mills and Lucky Cement, was awarded lease in October 2023. The licensed area contained two known porphyry prospects with strong exploration potential. Over 15 months, NRL has identified 18 new prospects, one of which named "Tang Kaur" has rapidly progressed to advanced drilling stage. Tabba told the audience that NRL had completed 13 diamond drill holes (3,517 metres) and advanced drilling at Tang Kaur was scheduled for May 2025. It will be followed by three to four years of detailed exploration, culminating in feasibility studies, while exploration of other prospects and leases continues. Additionally, NRL has acquired a lead and zinc exploration licence adjacent to a well-known deposit, where a bankable feasibility study has already been conducted. A comprehensive metal value chain is also being studied to assess the feasibility of downstream processing. "NRL considers indigenous populations as key stakeholders and actively supports social development through clean water, education, healthcare and local employment/businesses. Our current ratio of local employment is above 90%," it said. NRL is actively working with the government of Balochistan and the Special Investment Facilitation Council (SIFC) to secure two additional copper and gold exploration licences in Chagai, supported by a dedicated $100 million exploration fund. Saudi team meets oil minister Meanwhile, a high-level Saudi delegation, led by Deputy Minister for Mining Abdulrahman Al-Belushi, met Federal Minister for Petroleum Ali Pervaiz Malik on the sidelines of Pakistan Minerals Investment Forum to discuss more collaboration in energy and mineral sectors. The meeting focused on strengthening bilateral ties and exploring investment opportunities in Pakistan's oil, gas and mineral resources. Ali Pervaiz Malik highlighted Pakistan's vast potential in the energy sector, particularly in minerals and mining, and reiterated the government's commitment to facilitating foreign investors through an investor-friendly policy framework. The Saudi deputy minister for mining lauded the Minerals Investment Forum, saying that such events should be held every year. Saudi Geological Survey CEO Abdullah Al Shamrani invited a team from the Geological Survey of Pakistan to visit Saudi Arabia for knowledge sharing and technological cooperation.
Yahoo
08-04-2025
- Business
- Yahoo
MariEnergies announces oil discovery at Shawal-1 well in Sindh, Pakistan
MariEnergies has announced a significant oil discovery at its Shawal-1 well in the Mari Development & Production Lease (Mari D&PL) in Sindh Province, Pakistan. The company, holding a 100% working interest in the lease, has successfully drilled the well to a depth of 1,136m at the Ghazij Formation. The Shawal-1 well, spud on 27 January 2024, produced 1,040 barrels of approximately 30° API oil with 12% basic sediment and water (BS&W), alongside 2.5 million standard cubic feet per day (mscf/d) of associated gas during well testing. The wellhead flowing pressure (WHFP) was recorded at 953psi with a 32/64in choke size. MariEnergies MD/CEO Faheem Haider applauded the discovery as 'a remarkable success for the company's geoscientists and engineers who achieved this milestone by combining exploration efforts and use of new technologies'. The company plans to appraise the discovery to determine its extent and evaluate development options. In addition to the Shawal-1 discovery, MariEnergies recently announced a 'significant' gas discovery at the Mari Ghazij-1 exploration well within the same lease area. The well, spudded on 24 November 2022, was drilled to a depth of 1,015m and established a gas flow rate of 5.1mscf/d through a drill stem test, with a wellhead flowing pressure of 232psi at a 64/64in choke size. MariEnergies, an integrated exploration and production company, operates Pakistan's largest gas reservoir in the Mari D&P lease area, Daharki, Sindh. With a 23% market share, it is the second-largest gas producer in the country. The company aims to arrest declining hydrocarbon production in Pakistan by maximising production from current fields and discovering new resources through a fast-paced exploration programme. "MariEnergies announces oil discovery at Shawal-1 well in Sindh, Pakistan" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
