Pakistan Petroleum Ltd. notified the stock exchange regarding the gas price notifications issued by Oil & Gas Authority (OGRA) with respect to Tal Block Fields: Mamikhel, Maramzai, and Makori East., in terms of the supplemental agreements signed by the Government of Pakistan for conversion of the Petroleum Concession Agreement to the Petroleum Exploration and Production Policy, 2012.

According to the notification, the notification received from MOL Pakistan and Gas BV (operator, TAL Block), the total impact on the revenue for the Company’s share is approximately Rs. 4.2 billion net of sales tax. This amount including the royalty payable will be accounted for at the rate of 12.5% in the company’s first quarter financial statements for the fiscal year, 2017.