Seven new exploration blocks: OGDCL secures provisional award
The Ministry of Energy (Petroleum Division) has communicated the provisional award of new exploration blocks to OGDCL and its joint venture partners, Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), Mari Energies Limited (Mari), Government Holdings (Private) Limited (GHPL), Turkish Petroleum Overseas Company (TPOC), and Prime Global Energies Limited (Prime). These blocks have been awarded based on the work units committed by OGDCL and its joint venture partners, subject to formal execution of Exploration Licenses and Petroleum Concession Agreements (PCAs).
OGDCL has secured 100 percent working interest and operatorship in the Kalat North Block located in Balochistan. The company will also operate the Naing Sharif Block in Sindh with a 70 percent working interest, partnered by Prime with a 30 percent share. In Punjab, OGDCL will act as operator of the Khiu-II Block, holding 60 percent working interest, while Mari holds the remaining 40 percent.
OGDCL has also secured a 40 percent working interest in the Ahmad Wal Block in Balochistan, where Mari will serve as the operator with a 60 percent working interest. In the Kalat South Block, also in Balochistan, OGDCL secured a 30 percent share, with PPL acting as the operator with 40 percent interest and Mari holding 30 percent.
In Sindh's Sukhpur-II Block, OGDCL has a 30 percent stake, alongside Prime (25pc, operator), Mari (30pc), and TPOC (15pc). In the Ziarat North block in Balochistan, OGDCL secured a 24.87 percent working interest, with Mari acting as operator with 33.16 percent, and PPL, GHPL, and TPOC holding 24.87 percent, 7.10 percent, and 10 percent respectively.
These awards mark a significant step forward in OGDCL's strategy and business plan to strengthen its core exploration portfolio and accelerate efforts to augment the country's hydrocarbon reserves.
Copyright Business Recorder, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
16 minutes ago
- Business Recorder
OGDCL commissions Jhal Magsi Project in Balochistan
Oil & Gas Development Company Limited (OGDCL), Pakistan's largest E&P firm, has announced the successful commissioning of its Jhal Magsi Development Project in Balochistan. The project is now supplying gas to the Sui Southern Gas Company Limited (SSGCL) network. The E&P disclosed the development in a Monday notice to the Pakistan Stock Exchange (PSX). 'OGDCL is pleased to announce the successful completion and commissioning of Jhal Magsi Development Project, located in the remote region of Jhal Magsi district, Balochistan,' read the notice. Circular debt plan: OGDCL receives Rs7.7bn first interest payment The project is currently delivering approximately 14 million standard cubic feet per day (MMSCFD) of pipeline-quality gas, along with 45 barrels per day (bpd) of condensate, the E&P said. 'The gas has been injected into the SSGCL network, following the construction of a 98-kilometre gas transportation line by SSGCL from the Jhal Magsi field to the SSGCL tie-in point,' read the notice. OGDC shared that development activities commenced in February 2024, following the government approval of incentives for the project, including conversion from the 1997 Petroleum Policy to the Marginal Field Gas Pricing Policy. 'The project was accorded high priority to address the national energy requirement and was executed on an accelerated timeline, overcoming various technical and territorial challenges. 'Scope of work included installation of amine unit, dehydration unit, hot oil package, power generation facilities, and gathering systems,' it said. The listed company informed that Jhal Magsi Field comprises two wells and is a joint venture with OGDCL as the operator with 56% working interest, Pakistan Oilfields Limited (POL) and Government Holdings Private Limited (GHPL) with 24% and 20% working interests, respectively. 'The successful commissioning of Jhal Magsi Development Project reflects OGDCL's commitment to national energy security through sustainable development of domestic hydrocarbon resources,' it added. OGDCL was incorporated on 23 October 1997 under the Companies Ordinance, 1984 (now the Companies Act, 2017). The company was established to undertake exploration and development of oil and gas resources, including production and sale of oil and gas and related activities formerly carried on by Oil and Gas Development Corporation, which was established in 1961.
Business Recorder
an hour ago
- Business Recorder
‘US-Canada relations'
This is apropos a letter to the Editor from this writer carried by the newspaper yesterday. It is important to note that until recently, the two countries were bound by one of the strongest economic partnerships in the world. In 2024, total goods trade between them reached USD 761.8 billion, with US exports to Canada worth USD 349.9 billion and imports from Canada at USD 411.9 billion. Agriculture alone accounted for USD 28.4 billion in US exports, including nearly USD 800 million in dairy. Canada sent USD 124 billion worth of energy, machinery, and vehicles to the United States, while the USMCA trade agreement favored US dairy producers by granting 3.6 percent tariff-free access to Canada's USD 15 billion dairy market and removing restrictions that had long frustrated American farmers. This trade was not just numbers—it represented communities, livelihoods, and a shared prosperity that outsiders often described as two halves of one whole. That reality began to unravel early in President Trump's second term when he abruptly imposed tariffs on Canadian goods, starting at 10 percent and then climbing to 35 percent, with threats of even higher duties on dairy. In public speeches, he floated the idea of Canada becoming the 'cherished 51st State' of the United States. The comments were not taken lightly in Ottawa. Prime Minister Mark Carney declared that 'Canada is not for sale and will never be the 51st state.' Former Prime Minister Justin Trudeau described the remarks as humiliating, while Deputy Prime Minister Chrystia Freeland called the US actions 'economic warfare.' Words quickly turned into confrontation, and soon a trade war was underway. Copyright Business Recorder, 2025
Business Recorder
3 hours ago
- Business Recorder
Solar Pakistan 2025 concludes Multiple MoUs signed
KARACHI: The three-day Solar Pakistan 2025 exhibition successfully concluded at the Karachi Expo Centre, marking a significant milestone in accelerating Pakistan's transition to alternative energy. Showcasing innovations ranging from micro solar solutions to large-scale industrial applications, the exhibition introduced several cutting-edge technologies in Pakistan for the first time. Serving as a thriving platform for business growth, the event witnessed the signing of multiple Memorandums of Understanding (MoUs) worth millions, reinforcing Pakistan's position as a hub for renewable energy investment and industrial collaboration. The closing ceremony was graced by Sindh Energy Minister, Syed Nasir Hussain Shah, who praised the exhibition for advancing renewable energy opportunities in the country. 'Events like Solar Pakistan are vital in unlocking Pakistan's true potential in renewable energy. The Government of Sindh is committed to facilitating such initiatives that foster industrial collaboration, generate economic opportunities, and accelerate our transition towards alternative and sustainable energy solutions,' he said. Commenting on the exhibition's success, Saleem Khan Tanoli, CEO of Fakt Exhibitions, stated: 'We are pleased to see the enthusiastic participation and engagement from both national and international stakeholders. Solar Pakistan continues to serve as a catalyst for innovation and collaboration, shaping the future of Pakistan's energy landscape.' Copyright Business Recorder, 2025
