Pakistan Petroleum wins two new exploration blocks

By MG News | Category Equity | May 14, 2025 at 11:51 AM GMT+05:00

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May 14, 2025 (MLN): Pakistan Petroleum Limited (PSX: PPL) has been provisionally awarded two new hydrocarbon exploration blocks Kalat South and Ziarat North following its participation in the competitive bidding round held by the Government of Pakistan on April 30, 2025.

The details of the awarded blocks and their joint venture partners are as follows:

Block Name	JV Partners	Working Interest
Kalat South (2865-5)	(i) Pakistan Petroleum Limited (Operator)	40%
	(ii) Mari Energies Limited	30%
	(iii) Oil and Gas Development Company Limited	30%
Ziarat North (2966-3)	(i) Pakistan Petroleum Limited	24.87%
	(ii) Government Holdings Private Limited	7.10%
	(iii) Mari Energies Limited (Operator)	33.16%
	(iv) Oil and Gas Development Company Limited	24.87%
	(v) Turkish Petroleum Overseas Company	10%

These awards are subject to the formal execution of Petroleum Concession Agreements (PCAs), grant of Exploration Licenses, execution of Joint Operating Agreements among the respective joint venture partners, and completion of all related legal, regulatory, and procedural formalities.

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