Pakistan Petroleum wins two new exploration blocks

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MG News | 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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