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

Oil And Gas Development CoAnnouncement

13/11/2025 08:45

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RNS Number : 4156H  Oil and Gas Development Company Ltd  13 November 2025

 

 

 

CS04-08 (PSX/LSE/SECP)

November 13, 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 New Offshore Exploration Blocks

 

Dear Sir,

 

Oil and Gas Development Company Limited (OGDCL) participated in the
competitive bidding round for offshore exploration blocks held by the
Government in October 2025. The Ministry of Energy (Petroleum Division) has
communicated the provisional award of petroleum exploration rights over new
exploration blocks to OGDCL, Pakistan Petroleum Limited (PPL), Mari Energies
Limited (MariEnergies) and Prime Global Energies Limited (Prime). The details
of the blocks are as follows:

 S. No.  Block / Basin                                     JV Partners                 Participation Interest
 1       Bin Qasim South (2466-10) (Basin-Indus Offshore)  (i)    OGDCL (Operator)     32%
         (ii)   PPL                                                                    24%
         (iii)   MariEnergies                                                          24%
         (iv) Prime                                                                    20%
 2       Keti Bandar (2367-6)                              (i)    OGDCL (Operator)     32%

         (Basin-Indus Offshore)
         (ii)   MariEnergies                                                           24%
         (iii)   PPL                                                                   24%
         (iv) Prime                                                                    20%
 3       Gharo Creek (2466-9)                              (i)    OGDCL                30%

         (Basin-Indus Offshore)
         (ii)   PPL (Operator)                                                         40%
         (iii)   MariEnergies                                                          30%
 4       Kochi Creek (2366-8)                              (i)    OGDCL                30%

         (Basin-Indus Offshore)
         (ii)   PPL (Operator)                                                         40%
         (iii)   MariEnergies                                                          30%
 5       Behr Block (2366-9)                               (i)    OGDCL                30%

         (Basin-Indus Offshore)
         (ii)   MariEnergies (Operator)                                                40%
         (iii)   PPL                                                                   30%
 6       Zarrar Block (2267-3)                             (i)    OGDCL                24%

         (Basin-Indus Offshore)
         (ii)   Mari (Operator)                                                        32%
         (iii)   PPL                                                                   24%
         (iv)   Prime                                                                  20%
 7       Offshore Deep D (2366-11)                         (i)    OGDCL                30%

         (Basin-Indus Offshore)
         (ii)   Mari (Operator)                                                        40%
         (iii)   PPL                                                                   30%
 8       Sapat Bandar (2465-5)                             (i)    OGDCL                23%

         (Basin-Makran Offshore)
         (ii)   Mari                                                                   23%
         (iii)   Prime (Operator)                                                      31%
         (iv)   PPL                                                                    23%

 

The above arrangements are subject to the execution of respective Production
Sharing Agreements and grant of Exploration Licenses, execution of Joint
Operating Agreements among the respective JV Partners and completion of
related legal/procedural formalities.

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:

Director/HOD,

Office -II Department, Supervision Department

Securities & Exchange Commission of Pakistan,

NIC Building, 63 Jinnah Avenue, Blue Area,

Islamabad

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