ISLAMABAD, AUGUST 8: The Board of Directors of Mari Petroleum Company Limited (MPCL) approved the creation of a subsidiary that will concentrate on cloud computing and artificial intelligence, the company stated on Thursday.
In a notice released concurrently with the release of its FY24 financial results, the company disclosed the news.
Additionally, the business said that the government had authorized a five-year extension of the Mari D&P lease, extending the business’s rights under the agreement until November 2029 in exchange for an extra payment of fifteen percent of the wellhead value.
Additionally, the corporation now has the option to prolong the lease until field production is still commercially feasible according to recent changes made to the Petroleum Policy of 2012.
It also stated that two mineral exploration licenses in the Chaghi district of Balochistan had been granted to MPCL’s subsidiary Mari Mining Co. (Pvt) Ltd.
