AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: The Government of Pakistan has provisionally granted petroleum exploration rights over seven new blocks to Oil and Gas Development Company Limited (OGDCL) and its joint venture partners. This decision follows a competitive bidding round conducted in April 2025, as announced by the Ministry of Energy (Petroleum Division).
The awarded blocks are distributed across various provinces, with the exploration rights contingent upon the formalization of Exploration Licenses and Petroleum Concession Agreements. OGDCL, alongside partners such as Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), Mari Energies Limited (MARI), Government Holdings (Private) Limited (GHPL), Turkish Petroleum Overseas Company (TPOC), and Prime Global Energies Limited, secured these rights based on committed work units.
In Balochistan, OGDCL is the sole operator of the Kalat North block, holding a 100% interest. The company also holds a significant stake in the Kalat South block, with a 30% interest, while PPL operates the block with a 40% share, and Mari holds the remaining 30%.
In Sindh, OGDCL has a 70% working interest in the Naing Sharif block, with Prime holding the remaining 30%. The company also has a 30% stake in the Sukhpur-II block, operated by Prime with a 25% share.
The Punjab province sees OGDCL operating the Khiu-II block with a 60% interest, while Mari holds the remaining 40%. In the Ahmad Wal block in Balochistan, OGDCL has a 40% stake, with Mari acting as the operator with a 60% share.
The Ziarat North block in Balochistan features a complex partnership, with Mari as the operator holding a 33.16% interest. OGDCL and PPL each hold a 24.87% interest, GHPL has a 7.10% stake, and another undisclosed partner holds a 10% interest.
These developments align with OGDCL’s strategy to enhance its exploration activities and hydrocarbon reserves. The company aims to strengthen its core business through strategic investments, supported by compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations.