The Hub Power Company Limited informed on Thursday that Prime International Oil and Gas Company Limited has made a successful joint bid for two onshore exploration blocks- Sukhpur-II and Naing Sharif.
This was revealed by HUBCO, Pakistan’s largest Independent Power Producer (IPP), in a notice to the Pakistan Stock Exchange (PSX) today.
“We are pleased to inform that, subject to approval from regulatory authorities, Prime’s joint bid for the onshore exploration blocks, namely: Sukhpur-II and Naing Sharif, were successful,” read the notice.
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Prime is a joint venture of its subsidiary, Hub Power Holdings.
Incorporated in Pakistan on August 1, 1991 as a public limited company, HUBCO is engaged in developing and maintaining power stations. The company owns an oil-fired power station of 1,200 MW (net) in Balochistan (Hub plant).
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