KARACHI: Mari Petroleum Ltd recorded profit after tax at Rs16.8bn and EPS at Rs138.61 during 9MFY19, up 56pc from PAT at Rs10.8bn and EPS 88.92 in corresponding period last year.

Net sales grew 52pc to Rs43.5bn, from Rs28.6bn, which analysts at Arif Habib Ltd attributed to 53pc hike in wellhead price of Mari gas field, 19pc higher oil prices, and 2pc uptick in gas production.

Oil discovery

Separately in a material statement, the company stated that along with its joint venture partner Pakistan Petroleum Limited Ltd PPL), it had made an oil discovery at exploratory well Dharian-l ST-3, drilled in Ghauri Exploration License, near Gujar Khan in Rawalpindi District.

According to the spokesperson of the company it was the second consecutive discovery in Ghauri Block, which was expected to provide 372 barrels of crude oil on daily basis, Radio Pakistan reported.

Published in Dawn, April 20th, 2019