REG - Oil and Gas Devt Co - Provisional Award of 7 New Exploration Blocks

Oil And Gas Development CoAnnouncement

14/05/2025 07:15

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RNS Number : 6118I  Oil and Gas Development Company Ltd  14 May 2025

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

May 14, 2025

 The General Manager,               London Stock Exchange Plc.,

 Pakistan Stock Exchange Limited,   10 Paternoster Square,

Stock Exchange Building,

                                  London EC4M 7LS.
 Stock Exchange Road,

Karachi-74000, Pakistan.

                                    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:

 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%
 3.       Khiu-II (3171-4)        Punjab       OGDCL 60% Operator     Mari 40%
 4.       Ahmad Wal (2965-1)      Balochistan  OGDCL 40%              Mari 60% operator
 5.       Kalat South (2865-5)    Balochistan  OGDCL 30%              PPL 40% Operator & Mari 30%,
 6.       Sukhpur-II (2568-23)    Sindh        OGDCL 30%,             Prime 25% Operator, Mari 30%,TPOC 15%
 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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