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

Oil And Gas Development CoAnnouncement

03/07/2023 10:00

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RNS Number : 7324E  Oil and Gas Development Company Ltd  03 July 2023

CS04-08 (PSX/LSE/SECP)

July 03, 2023

 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 New Exploration Blocks

 

Dear Sir,

 

OGDCL participated in the competitive bidding round for exploration blocks
held on June 20, 2023, and has been provisionally awarded two new exploration
blocks by the Government. OGDCL will be the operator in both blocks with 100%
working interest. Details of the blocks provisionally awarded to OGDCL are as
under:

 

 S#  Block Name          Province  Operator

                                   (Working Interest)
 1.  Sehwan (2667-19)    Sindh     OGDCL 100%
 2.  Zindan-II (3271-9)  Punjab    OGDCL 100%

 

Participation in the bidding round is in furtherance of the Company's strategy
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
SecuritiesAct, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination
amongst your members please.

 

Yours Sincerely,

 

 

 

(Wasim Ahmad)

A/Company Secretary

Copy:

 

Director/HOD,

Office -II Department, Supervision Department

Securities & Exchange Commission of Pakistan,

NIC Building, 63 Jinnah Avenue, Blue Area,

Islamabad.

 

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