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14 May 2025 23:16:09
- Source: Sharecast
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OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT) |
CS04-08 (PSX/LSE/SECP)
May 14, 2025
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The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Road, |
London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS.
Tel: (44) 20 7334 8907 |
Subject: Provisional Award of Petroleum Exploration Rights over 7 New Blocks
Dear Sir,
Oil and Gas Development Company Limited (OGDCL) participated in the competitive bidding round for exploration blocks held by the Government in April 2025. The Ministry of Energy (Petroleum Division) has communicated the provisional award of new exploration blocks to OGDCL, Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), Mari Energies Limited (MARI), Government Holdings (Private) Limited (GHPL), Turkish Petroleum Overseas Company (TPOC), and Prime Global Energies Limited (Prime). These blocks have been awarded based on the work units committed by OGDCL and its JV partners, subject to formal execution of Exploration Licenses and Petroleum Concession Agreements (PCAs). The details of the blocks provisionally awarded to OGDCL are as follows:
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Sr. No. |
Block Name |
Province |
Working Interest |
JV Partner(s) Working Interest |
|
1. |
Kalat North (2966-4) |
Balochistan |
OGDCL (100%) Operator |
- |
|
2. |
Naing Sharif (2667-20) |
Sindh |
OGDCL 70%, Operator |
Prime 30% |
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3. |
Khiu-II (3171-4) |
Punjab |
OGDCL 60% Operator |
Mari 40% |
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4. |
Ahmad Wal (2965-1) |
Balochistan |
OGDCL 40% |
Mari 60% operator |
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5. |
Kalat South (2865-5) |
Balochistan |
OGDCL 30% |
PPL 40% Operator & Mari 30%, |
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6. |
Sukhpur-II (2568-23) |
Sindh |
OGDCL 30%, |
Prime 25% Operator, Mari 30%,TPOC 15% |
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7. |
Ziarat North (2966-3) |
Balochistan |
OGDCL 24.87% |
Mari 33.16% Operator, PPL 24.87%, GHPL 7.10%, TPOC 10% |
Participation in the bidding round is in furtherance of the Company's strategy and business plan to invest in its core business, accelerate exploratory activities, and augment hydrocarbon reserves balance.
The above information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.
Yours Sincerely,
(Wasim Ahmad)
Company Secretary
Copy:
Executive Director/HOD, Offsite-II Department, Supervision Division, SECP, Islamabad.
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