BR100 Increased By (0.77%)
BR30 Increased By (0.52%)
KSE100 Increased By (0.66%)
KSE30 Increased By (0.68%)
AGHA 7.78 Increased By ▲ 0.03 (0.39%)
BECO 5.20 Increased By ▲ 0.01 (0.19%)
BML 57.59 Decreased By ▼ -1.07 (-1.82%)
BOP 34.22 Increased By ▲ 0.53 (1.57%)
CNERGY 10.77 Increased By ▲ 0.16 (1.51%)
CSIL 5.43 Increased By ▲ 0.13 (2.45%)
FCCL 54.90 Increased By ▲ 1.16 (2.16%)
FFL 16.72 Increased By ▲ 0.26 (1.58%)
FNEL 1.25 Increased By ▲ 0.03 (2.46%)
KEL 7.44 Increased By ▲ 0.16 (2.2%)
KOSM 5.85 Increased By ▲ 0.21 (3.72%)
LOTCHEM 29.74 Increased By ▲ 0.09 (0.3%)
MLCF 95.60 Decreased By ▼ -0.76 (-0.79%)
NBP 203.70 Increased By ▲ 0.17 (0.08%)
NCPL 58.00 Increased By ▲ 1.15 (2.02%)
NPL 69.30 Increased By ▲ 1.99 (2.96%)
OGDC 318.20 Decreased By ▼ -0.02 (-0.01%)
PACE 10.75 Increased By ▲ 0.12 (1.13%)
PAEL 42.90 Increased By ▲ 1.13 (2.71%)
PIBTL 16.80 Decreased By ▼ -0.01 (-0.06%)
PPL 221.23 Increased By ▲ 1.06 (0.48%)
PRL 51.51 Increased By ▲ 2.46 (5.02%)
PTC 70.80 Increased By ▲ 0.79 (1.13%)
SSGC 28.68 Decreased By ▼ -0.46 (-1.58%)
TBL 9.90 Increased By ▲ 0.13 (1.33%)
TELE 8.90 Increased By ▲ 0.08 (0.91%)
TPL 18.25 Increased By ▲ 1.08 (6.29%)
TPLP 12.96 Increased By ▲ 0.45 (3.6%)
TREET 22.70 Increased By ▲ 0.11 (0.49%)
TRG 59.92 Decreased By ▼ -0.30 (-0.5%)

The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded 10 new onshore exploration blocks to MariEnergies, one of Pakistan’s largest exploration and production (E&P) companies.

“These blocks have been awarded after competitive bidding on the basis of work units committed by various E&P companies in the Pakistan E&P Onshore Bid Round 2025 (30th April 2025) conducted by the DGPC,” MARI said in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.

According to the notice, MARI will operate seven blocks as an operator. At the same time, the remaining three will be developed under joint venture (JV) arrangements— “one each with Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL) and Prime Global Energies Limited (Prime) as operators in respective blocks”.

It added that Government Holdings Pvt Ltd (GHPL) and Turkish Petroleum Overseas Company (TPOC) are also JV Partners.

Out of the 10 blocks awarded, eight are located in Balochistan, namely, Ziarat North, Ahmad Wal, Padag, Chagai, Dalbandin, Merui Merui West and Kalat South. The remaining two, i.e. Khiu-II and Sukhpur-II, are located in Punjab and Sindh, respectively.

The E&P, formerly Mari Petroleum Company Limited (MARI), said that the formal award of petroleum rights in the blocks is conditional on i. Grant of petroleum exploration licenses by the government ii. Execution of petroleum concession agreements with the government iii. Execution of joint operating agreements among the respective JV Partners and the completion of related legal/procedural formalities.

“The acquisition of the new exploration blocks aligns with our strategic objective of expanding our acreage to add new hydrocarbon resources for the company and to support Pakistan’s long-term energy security and self-reliance,” said MARI.

Earlier this month, MARI discovered gas production from its Soho-1 exploratory well in the Sujawal Block in Sindh.

Comments

Comments are closed for this article.