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    PPL   PK0081801018

PAKISTAN PETROLEUM LIMITED

(PPL)
  Report
End-of-day quote The Pakistan Stock Exchange  -  2023-01-29
76.26 PKR   -3.04%
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Pakistan Petroleum : Provisional Award of Four New Blocks

11/08/2022 | 01:14am EST
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Our reference: CS/PSX-0218

Your reference:

Date: 8th November 2022

Ms. Asmaa Saleem Malik

Chief Listing Officer

Listing Department

Pakistan Stock Exchange Limited

Stock Exchange Building

Stock Exchange Road

Karachi

Dear Madam,

Re: Provisional Award of Four New Blocks - Shaigalu, South Pishin, Tanishpa, and Lugai

In pursuance of Rule 5.6.1 of your Rules, it is informed that the Company participated in competitive bidding for the award of blocks for exploration which was held by the Government of Pakistan in October 2022.

The Government of Pakistan has provisionally awarded four (4) new blocks (Shaigalu, South Pishin, Tanishpa, and Lugai) to joint ventures of Pakistan Petroleum Limited (PPL), Oil and Gas Development Company Limited (OGDCL) and Mai Petroleum Company Limited (MPCL), of which one block would be operated by the Company. The details of the blocks are tabulated hereunder:

S.

Block

JV Partners

Working

No.

Interest

(i)

Pakistan Petroleum Limited, (Operator)

40%

1

Shaigalu

(ii) Mari Petroleum Company Limited

30%

(iii) Oil and Gas Development Company Limited

30%

(i)

Pakistan Petroleum Limited

35%

2

South Pishin

(ii)

Mari Petroleum Company Limited, (Operator)

37%

(iii) Oil and Gas Development Company Limited

28%

(i)

Pakistan Petroleum Limited

35%

3

Tanishpa

(ii) Oil and Gas Development Company Limited, (Operator)

37%

(iii) Mari Petroleum Company Limited

28%

(i)

Pakistan Petroleum Limited

30%

4

Lugai

(ii) Oil and Gas Development Company Limited, (Operator)

40%

(iii) Mari Petroleum Company Limited

30%

Page 1 of 2

Pakistan Petroleum Limited

The above arrangements are subject to the execution of respective Petroleum Concession Agreements and grant of Exploration Licenses, execution of Joint Operating Agreements among the respective JV Partners, and completion of related legal/procedural formalities.

The foregoing information may be disseminated to your members.

Yours truly,

Ali Jaffar

Company Secretary

Copy: Executive Director/HOD, Offsite-II Department, Supervision Division, SECP, Islamabad.

Page 2 of 2

Disclaimer

Pakistan Petroleum Limited published this content on 08 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2022 06:13:07 UTC.


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Sales 2023 245 B 923 M 923 M
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