RNS Number : 3779Z
Oil and Gas Development Company Ltd
11 January 2024
 

 

 

CS04-08 (PSX/LSE/SECP)

January 11, 2024

The General Manager,

Pakistan Stock Exchange Limited,
Stock Exchange Building,

Stock Exchange Road,
Karachi-74000, Pakistan.

 

Fax No. (92-21) 3241 0825, 3241 5136

London Stock Exchange Plc.,

10 Paternoster Square,

London EC4M 7LS.

 

Tel: (44) 20 7334 8907

 

 

Subject:          Provisional Award of New Exploration Blocks

 

Dear Sir,

 

Oil and Gas Development Company Limited (OGDCL) participated in the competitive bidding round for exploration blocks held by the Government in November 2023. The Directorate General of Petroleum Concessions (DGPC) has communicated the provisional award of new exploration blocks to OGDCL, Pakistan Petroleum Limited (PPL), and Pakistan Oilfields Limited (POL). These blocks have been awarded based on the work units committed by OGDCL and its JV partners. The details of the blocks provisionally awarded to OGDCL are as follows:

Block Name

Province

Working Interest

JV Partner(s)

Working Interest

Kotra East (2867-8)

Balochistan

OGDCL (100%) Operator

-

Murradi (2767-7)

Sindh

OGDCL (100%) Operator

-

Gambat-II (2668-25)

Sindh

OGDCL (30%)

PPL (70%) Operator

Saruna West (2666-1)

Balochistan

OGDCL (30%)

POL (40%) Operator,

PPL (30%)

 

Participation in the bidding round is in furtherance of the Company's strategy and business plan to invest in its core business, accelerate exploratory activities and augment hydrocarbon reserves balance.

The above information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.

 

Yours Sincerely,

                                                                                             

 

 

 

(Wasim Ahmad)

  A/Company Secretary

 

 

Copy:

 

Executive Director/HOD, Offsite-II Department, Supervision Division,

Securities & Exchange Commission of Pakistan,63, NIC Building,

Jinnah Avenue, Blue Area,

Islamabad.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCQKDBKPBKKPDD