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Business & Finance OGDC (Oil & Gas Development Company Limited) 136.20 Increased By ▲ 1% MARI (Mari Petroleum Company Limited) 2,773.00 Decreased By ▼ -0.96%

Govt gives Provisional Award of New Exploration Blocks to E&P firms

  • The blocks have been awarded after competitive bidding, on the basis of work units committed by different E&P Companies in the Block Bidding Round 2020 arranged by the Government.
Published January 28, 2021

The Directorate General of Petroleum Concessions (DGPC) has provisionally award 10 new exploration blocks to the country’s E&P firm, the Oil and Gas Development Company Limited (OGDCL).

The blocks have been awarded after competitive bidding, on the basis of work units committed by different E&P Companies in the Block Bidding Round 2020 arranged by the Government.

Details of the blocks provisionally awarded to OGDCL are as under:

Killa Saifullah Balochistan OGDCL (60%) MPCL (40%), Sharan Balochistan MPCL (60%) OGDCL (40%), Suleiman Balochistan OGDCL (50%) PPL (50%), Sutlej Punjab OGDCL (100%), Lilla Punjab OGDCL ( 100%), Hazro Punjab OGDCL (100%), Jhelum Punjab OGDCL (100%), Vehari Punjab OGDCL (100%), Khewari East Sindh OGDCL (100%), Sujawal South Sindh OGDCl ( 100%), Nowshera Khyber Pakhtunkhwa OGDCL (100%)

Whereas Mari Petroleum Company Limited (MPCL) have got provisional award for two exploration blocks, meanwhile Pakistan Oilfields Ltd has received provisional award for one block.

“We are pleased to inform that the Directorate General of Petroleum Concessions (DGPC) vide its letter dated January 26, 2021 has communicated provisional award of new exploration blocks to Mari Petroleum Company Limited (MPCL) (two blocks as an Operator and two as a IV Partner with other E&P Companies),” said Mari Petroleum Company Secretary Assad Rabbani in a notification issued to the Pakistan Stock Exchange (PSX).

Details of the blocks are as under:

Nareli Balochistan MPCL (39%) Pakistan Oilfields Ltd (32%) Spud Energy Pty Ltd (29%), Sharan Balochistan MPCL (60%) Oil & Gas Development Co. Ltd (40%), Killa Saifullah Balochistan Oil & Gas Development Co. Ltd (60%) MPCL (40%), North Dhurnal Punjab Pakistan Oilfields Ltd (60%) MPCL (40%)

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