By Jaime Llinares Taboada
Oil & Gas Development Co. said Friday that it will invest up to $100 million into a new partnership with Pakistan Petroleum Ltd., Mari Petroleum Company Ltd. and Government Holding (Private) Ltd.
The Pakistani oil-and-gas company said the consortium has submitted a bid for one of the blocks offered in the Abu Dhabi Bid Round 2019.
Each partner will have a 25% stake in the special purpose vehicle. They have committed a combined investment of up to $400 million over five years.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
06-25-21 0442ET