MPCL awarded new four exploration blocks

News Image

MG News | November 08, 2022 at 10:27 AM GMT+05:00

0:00

November 8, 2022 (MLN): The Directorate General of Petroleum Concessions (DGPC), has awarded four new exploration blocks to Mari Petroleum Company Limited (MPCL), the company filing on PSX showed today.

In the filing, blocks were awarded to MPCL from which one block is awarded as an operator and three blocks as a joint venture partner with Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL).

Furthermore, the blocks have been awarded after competitive bidding on the basis of work units committed by various E&P Companies in the Pakistan E&P Bid Round 2022 October conducted by DGPC. Details of the blocks are as under:

A formal award of petroleum rights in each of the blocks is conditional upon:

 1) Signing of Petroleum Exploration Licenses and execution of Petroleum Concession Agreements with the Government

 2) Execution of Joint Operating Agreements among the respective JV Partners

3) Completion of related legal/procedural formalities

Moreover, As part of the Company's Exploration Business Plan, the acquisition of these new exploration blocks would enhance the Company's hydrocarbon resource balance by adding new resources.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,395.00 120,695.00
116,660.00
-2840.00
-2.36%
BRENT CRUDE 68.98 69.37
68.60
-0.23
-0.33%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 0.00
0.00
-0.05
-0.05%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.63 67.09
66.27
-0.35
-0.52%
SUGAR #11 WORLD 16.46 16.46
16.25
0.16
0.98%

Chart of the Day


Latest News
July 15, 2025 at 03:14 PM GMT+05:00

EU faces 30% tariffs as Trump issues ultimatum


July 15, 2025 at 02:33 PM GMT+05:00

PACRA maintains entity ratings of Pak Elektron Ltd


July 15, 2025 at 02:11 PM GMT+05:00

Bank deposits increase 8.5% to Rs35.5tr in Jun


July 15, 2025 at 01:01 PM GMT+05:00

Zarea Board approves UAE subsidiary incorporation



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg