Pakistan Petroleum Limited (PPL), a key natural gas supplier in the country, has received conditional approval from the Government of Balochistan for an exploration license to explore precious and base metals in the district of Chagai.
The E&P shared the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.
“We are pleased to inform that the Government of Balochistan has conditionally approved the application submitted by PPL for the grant of license, i.e. EL-331, for exploration of precious and base metals group and associated minerals in the district Chagai, Balochistan,” read the notice
PPL said the development aligns with its strategic focus on diversifying beyond hydrocarbons to ensure long-term business sustainability and reaffirms “the company’s unwavering commitment to expand its footprint in Pakistan’s mineral sector.”
The approval process will be finalised upon completion of all the relevant conditions relating to legal, regulatory, and procedural matters, it added.
Last year, PPL entered into a Joint Venture Agreement with Degan Exploration Works (DEW) for a mineral exploration license in Chagai. The license area was located in the Chagai Metallogenic belt, which is known for possessing class copper and gold deposits such as Reko Diq and Saindak.
PPL, a state-owned petroleum company, operates major oil and gas fields, including the Sui gas field, has non-operating interests in other fields, and has an interest in an exploration portfolio onshore and offshore.
Earlier this month, PPL announced a strategic partnership with Turkish Petroleum Overseas Company (TPOC), a subsidiary of Turkiye’s national oil company TPAO, under the farm-out process of the Eastern Offshore Indus C Block.
The partnership is aimed at boosting offshore exploration and strengthening Pakistan-Turkiye energy cooperation, the E&P said back then.
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