Provisional Award of New Exploration Blocks

Oil and Gas Development Company Ltd

03 July 2023

 

CS04-08 (PSX/LSE/SECP)

July 03, 2023

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi-74000, Pakistan.

London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS. Tel: [phone]

Subject:        Provisional Award of New Exploration Blocks

Dear Sir,

OGDCL participated in the competitive bidding round for exploration blocks held on June 20, 2023, and has been provisionally awarded two new exploration blocks by the Government. OGDCL will be the operator in both blocks with 100% working interest. Details of the blocks provisionally awarded to OGDCL are as under:

S#	Block Name	Province	Operator (Working Interest)
1.	Sehwan (2667-19)	Sindh	OGDCL 100%
2.	Zindan-II (3271-9)	Punjab	OGDCL 100%

Participation in the bidding round is in furtherance of the Company's strategy to invest in its core business, accelerate exploratory activities and augment hydrocarbon reserves balance.

The above information is submitted in compliance of Section 96 of the SecuritiesAct, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.

Yours Sincerely,

(Wasim Ahmad)

A/Company Secretary

Copy:

Director/HOD,

Office -II Department, Supervision Department

Securities & Exchange Commission of Pakistan,

NIC Building, 63 Jinnah Avenue, Blue Area,

Islamabad.

 

END