HUBC’s joint venture secures exploration rights for 4 onshore blocks
MG News | November 14, 2025 at 11:56 AM GMT+05:00
November 14, 2025 (MLN): The Hub Power Company Limited (PSX: HUBC)'s joint venture, Prime International Oil and Gas Company Limited (Prime), through its wholly owned subsidiary Prime Global Energies Limited, has been provisionally awarded exploration rights over four onshore blocks.
This was shared by the Company through a notification to the Exchange.
The awards are subject to regulatory approvals and completion of legal and procedural formalities.
Prime will partner with Pakistan Petroleum Limited (PPL), Mari Energies Limited (Mari), and Oil and Gas Development Company Limited (OGDCL) for the exploration.
Prime will act as the operator for Block No. 2465-5 (Sapat Bandar) with a 31% stake, while holding 20% stakes in the remaining three blocks: Block No. 2267-3 (Zarrar), Block No. 2367-6 (Keti Bandar), and Block No. 2466-10 (Bin Qasim South).
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