HUBCO’s JV Prime Global Energies secures four onshore exploration blocks

Prime International Oil and Gas Company Limited (Prime), a joint venture of Hub Power Holdings Limited (HPHL), has been provisionally awarded exploration rights for four onshore blocks in Pakistan via its wholly owned subsidiary, Prime Global Energies Limited.

The development was disclosed by The Hub Power Company Limited, HPHL’s parent company, in a notice to the Pakistan Stock Exchange (PSX) on Friday.

“We are pleased to inform that, subject to approval from regulatory authorities and completion of legal and procedural formalities, Prime’s wholly owned subsidiary, Prime Global Energies Limited, has been provisionally awarded exploration rights over 4 onshore blocks with other partners, namely Pakistan Petroleum Limited (PPL), Mari Energies Limited (MARI) and Oil and Gas Development Company Limited (OGDCL),” read the notice.

Prime Global Energies Limited will hold a 31% stake and act as the Operator in Block 2465-5 (Sapat Bandar). For the other three blocks, i.e. Block 2267-3 (Zarrar), Block 2367-6 (Keti Bandar), and Block 2466-10 (Bin Qasim South), the company will hold a 20% stake in each.

Meanwhile, in a separate notice to the bourse on Friday, Fatima Fertilizer Company Limited (FFCL) informed that its wholly-owned subsidiary, Fatima Petroleum Company Limited (FPCL), has been provisionally awarded participation interests in two offshore exploration blocks by the Directorate General of Petroleum Concessions (DGPC).

On Thursday, Mari Energies Limited shared that it has secured provisional awards for 23 new offshore exploration blocks following the Pakistan E&P Offshore Bid Round 2025.

Last month, Pakistan’s Ministry of Energy awarded 23 offshore exploration blocks of 40 blocks offered, covering around 53,500 square kilometres, to four consortia led by local energy companies, some partnered with foreign firms including Turkey’s national oil company TPAO.