January 28, 2021 (MLN): Oil & Gas Development Company Limited (OGDCL) has been awarded provisional new exploration blocks by the Directorate General of Petroleum Concessions (DGPC) after competitive bidding round for exploration blocks held by the Government in January 2021.
Details of the blocks provisionally awarded to OGDCL are as under:
S.no
Block Name
Province
Operator (working Interest)
JV Partner (s) (Working Interest)
1
Killa Saifullah
Balochistan
OGDCL (60%)
MPCL (40%)
2
Sharan
Balochistan
MPCL (60%)
OGDCL (40%)
3
Suleiman
Balochistan
OGDCL (50%)
PPL (50%)
4
Sutlej
Punjab
OGDCL (100%)
–
5
Lilla
Punjab
OGDCL (100%)
–
6
Hazro
Punjab
OGDCL (100%)
–
7
Jhelum
Punjab
OGDCL (100%)
–
8
Vehari
Punjab
OGDCL (100%)
–
9
Khewari East
Sindh
OGDCL (100%)
–
10
Sujawal South
Sindh
OGDCL (100%)
–
11
Noweshara
Khyber Pakhtunkhwa
OGDCL (100%)
–
The aforesaid provisional award will be formalized upon:
Approval of the acquisition by OGDCL Board of Directors
Execution of Petroleum Concession Agreements with DGPC and necessary agreements with joint venture partners
Completion of regulatory and procedural formalities
As per notice sent to PSX, 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 hydrocarbon reserves balance.
