ISLAMABAD (PEN) : The Board of Directors of Mari Petroleum Company Limited (MPCL), one of Pakistan’s leading exploration and production firms, has approved a substantial investment of Rs10 billion in a proposed wholly-owned technology subsidiary. This decision was made during a meeting on September 23, 2024, and was communicated in a stock filing
Earlier, on August 8, MPCL announced its intention to enter the Information Technology sector by creating a subsidiary focused on cloud computing and artificial intelligence (AI). In their statement, the board expressed excitement about this new venture, emphasizing its commitment to innovation.
The upcoming subsidiary will specialize in data centers, cloud computing, AI, and other advanced technologies, aiming to bridge the gap between traditional industries like petroleum and mining and the evolving tech landscape. This initiative reflects MPCL’s vision to diversify its operations and embrace new technological frontiers, promising to bring fresh opportunities and advancements to both the company and the broader industry.
