It was reported in May 2018 that OMV (Pakistan) Exploration has assigned its full 20% interest in the Harnai EL (Sulaiman Foldbelt) onshore concession to Mari Petroleum Company Ltd (MPCL) and it would be effective from 20 June 2015. As a result, the revised equity split in the block is as follows: MPCL 60% (operator) and Pakistan Petroleum Ltd (PPL) 40%.  This is a part of OMVâs decision of leaving the country - OMV had announced on 28 February 2018 that it signed an agreement with United Energy Group Ltd (UEG) for selling its upstream business in Pakistan to Dragon Prime Hong Kong Ltd which is a subsidiary of UEG. The sale price was agreed as USD 193 million (EUR 157 million) and the transaction is expected to be completed by the end of 2018 after relevant regulatory approvals. The farm-out process for Harnai block was initiated in early 2017, before the signing of deal with UEG.    The Harnai block covers an area of 2,483 sq km and it is located in the Pishin, Ziarat, Sibi and Loralai districts of the Balochistan province.  Â     Background Information    Harnai EL was exclusively awarded to Mari Gas Co Ltd (MGCL) on 21 June 2006. MPCL was previously known as Mari Gas Company Ltd (the name was changed with effect from 19 November 2012).  Only one well is known to have been drilled on the acreage to date - Chappar Rift 1, which was P&A at a depth of 95 m by Oil India Ltd (OIL) in 1916.   The work programme for the initial three-year exploration phase, together with the simultaneously awarded Hanna EL and Sujawal EL, is believed to include G&G studies, 300km geological fieldwork, 300km 2D seismic acquisition, 200 sq km 3D seismic acquisition and the drilling of two exploration wells (with a minimum financial commitment of USD 13.62 million).   MGCL assigned a 40% working interest in the block to MND E&P Ltd with effect from 6 April 2007 and only one well is known to have been drilled on the acreage to date - Chappar Rift 1, which was P&A at a depth of 95 m by Oil India Ltd (OIL) in 1916. MGCL subsequently assigned a 20% working interest to OMV (Pakistan) Exploration with effect from 6 December 2008, as a result of which the revised equity split was as follows - Mari Gas Co Ltd (MGCL) (40%, operator), MND E&P Ltd (40%) and OMV (Pakistan) Exploration (20%).   MGCL was granted a one-year extension to the second contract year of the license with effect from 21 June 2008. A further one-year extension was granted to the second contract year with effect from 21 June 2009, followed by another 12-month extension effect from 21 June 2010. MGCL was granted an additional 12-month extension to the second contract year of the Harnai EL with effect from 21 June 2011.  MGCL changed its name to Mari Petroleum Company Limited (MPCL) with effect from 19 November 2012.     Pakistan Petroleum Ltd Europe (PPL Europe) acquired MND Exploration and Production Ltd (MND E&P) on 9 April 2013 as a result the revised equity split was as follows: Mari Petroleum Company Limited (MPCL) (40%, operator), PPL Europe (40%) and OMV (Pakistan) Exploration (20%).   Mari Petroleum Company Ltd (MPCL) was granted an additional 24-month extension to the second contract year of the Harnai EL with effect from 21 June 2012. A further 24-month extension was granted to the second contract year of the Harnai EL from 21 June 2014 to 20 June 2016 which was followed by an additional 12-month extension, effective 21 June 2016.  The company had planned to conduct a 150 line km 2D seismic acquisition over the block during 2016 but it was subsequently believed to have been dropped as no activity was initiated by June 2017.  MPCL was granted an additional 12-month extension to the second contract year of the Harnai EL from 21 June 2017 to 20 June 2018.
Pakistan (Mari-Kandhkot High (Jaisalmer B.)) Mari