OGDC awarded four new exploration blocks

By MG News | January 11, 2024 at 10:23 AM GMT+05:00

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January 11, 2024 (MLN): Oil & Gas Development Company Limited (PSX: OGDC) has been provisionally awarded four new exploration blocks by the government, the company’s latest filing on PSX revealed.

Two of these blocks are situated in Sindh, namely Kotra East (2867-8) and Saruna West (2666-1), while Murradi (2767-7) and Gambat-II (2668-25) are located in Balochistan.

To recall, OGDCL participated in the competitive bidding round for exploration blocks held by the government in November 2023.

Accordingly, 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).

Blocks provisionally awarded to OGDC

Block Name	Province	Working Interest	3V 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%)

These blocks have been awarded based on the work units committed by OGDC and its JV partners.

Moreover, 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 the hydrocarbon reserves balance.

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