Provisional Award of New Exploration Blocks

Oil and Gas Development Company Ltd

11 January 2024

 

CS04-08 (PSX/LSE/SECP)

January 11, 2024

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi-74000, Pakistan. Fax No. (92-21) 3241 0825, 3241 5136

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

Subject:          Provisional Award of New Exploration Blocks

Dear Sir,

Oil and Gas Development Company Limited (OGDCL) participated in the competitive bidding round for exploration blocks held by the Government in November 2023. The Directorate General of Petroleum Concessions (DGPC) has communicated the provisional award of new exploration blocks to OGDCL, Pakistan Petroleum Limited (PPL), and Pakistan Oilfields Limited (POL). These blocks have been awarded based on the work units committed by OGDCL and its JV partners. The details of the blocks provisionally awarded to OGDCL are as follows:

Block Name	Province	Working Interest	JV Partner(s) Working Interest
Kotra East (2867-8)	Balochistan	OGDCL (100%) Operator	-
Murradi (2767-7)	Sindh	OGDCL (100%) Operator	-
Gambat-II (2668-25)	Sindh	OGDCL (30%)	PPL (70%) Operator
Saruna West (2666-1)	Balochistan	OGDCL (30%)	POL (40%) Operator, PPL (30%)

Participation in the bidding round is in furtherance of the Company's strategy and business plan 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 ​Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.

Yours Sincerely,

(Wasim Ahmad)

  A/Company Secretary

Copy:

Executive Director/HOD, Offsite-II Department, Supervision Division,

Securities & Exchange Commission of Pakistan,63, NIC Building,

Jinnah Avenue, Blue Area,

Islamabad.

 

END