REG - Oil and Gas Devt Co - Signing and Execution of PCA

Oil And Gas Development CoAnnouncement

12/06/2025 10:00

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RNS Number : 5852M  Oil and Gas Development Company Ltd  12 June 2025

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

 

CS04-08/(PSX/LSE/SECP)
                                     June 12, 2025

 The General Manager,                                        London Stock Exchange Plc.

 Pakistan Stock Exchange Limited, Stock Exchange Building,   10 Paternoster Square,

 Stock Exchange Road,                                        London EC4M 7LS

 Karachi                                                     Tel: (44) 20 7334 8907

 

Subject:         Signing and Execution of Production Concession Agreement
(PCA), in Respect of Abu Dhabi's Offshore Block 5

Dear Sir,

 

We are pleased to announce the signing and execution of a Production
Concession Agreement (PCA), for the development of Offshore Block 5, Abu
Dhabi. The PCA has been signed between the Supreme Council for Financial and
Economic Affairs ("SCFEA") on behalf of the Government of the Emirate of Abu
Dhabi, Abu Dhabi National Oil Company (ADNOC) P.J.S.C ("ADNOC"), and Pakistan
International Oil Limited ("PIOL").

PIOL is a special purpose vehicle incorporated by a consortium comprising Oil
and Gas Development Company Limited, Pakistan Petroleum Limited, Mari Energies
Limited, and Government Holdings (Private) Limited, with each partner holding
a 25% share.

Upon execution of the PCA, the partnership will be between ADNOC and PIOL with
PIOL holding 40% participating interest.

The foregoing information is submitted in compliance with Section 96 of the
Securities Act, 2015 and Clause 5.6.1 of the Pakistan Stock Exchange Limited
Regulations, for dissemination amongst your members.

 

 

Yours sincerely,

 

 

 

 

(Wasim Ahmad)

Company Secretary

 

 

Copy

 

Executive Director/HOD,

Offsite-II Department, Supervision Division,

Securities & Exchange Commission of Pakistan,

63, NIC Building, Jinnah Avenue, Blue Area,

Islamabad.

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