8th Nov 2022 07:09
CS04-08 (PSX/LSE/SECP)
November 08, 2022
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,
OGDCL had participated in the competitive bidding round for exploration blocks held in October 2022 and has been provisionally awarded four new exploration blocks by the Government. OGDCL will be the operator in two blocks. Details of the blocks provisionally awarded to OGDCL are as under:
S# | Block Name | Province | Operator (Working Interest) | JV Partner(s) (Working Interest) |
1. | Lugai | Balochistan | OGDCL (40%) | PPL (30%) MPCL (30%) |
2. | Tanishpa | Balochistan | OGDCL (37%) | PPL (35%) MPCL (28%) |
3. | Shaigalu | Balochistan | PPL (40%) | OGDCL (30%) MPCL (30%) |
4. | South Pishin | Balochistan | MPCL (37%) | OGDCL (28%) PPL (35%) |
Participation in the bidding round is in furtherance of Company's strategy 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,
(Ahmed Hayat Lak)
Company Secretary
Copy:
Director/HOD,
Surveillance, Supervision and Enforcement Department
Securities & Exchange Commission of Pakistan, NIC Building,
63 Jinnah Avenue, Blue Area,
Islamabad.
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