Karachi: TPL Properties Limited has confirmed that a fire, which broke out at Korangi Creek on March 28, 2025, has once again extinguished naturally. This development marks the second occurrence of the fire extinguishing on its own within a span of ten days. The incident and its resolution are consistent with the 2-3 week timeline projected by industry experts and TPL's internal assessment.

The Ministry of Energy (Petroleum Division) formed a Technical Committee on April 8, 2025, to address the incident. The American firm Cudd Well was subsequently engaged to provide technical evaluation and advice on containment strategies. The reduction in the fire's intensity and its eventual extinguishment have been primarily attributed to it being a minor gas pocket.

According to information available from the Pakistan Stock Exchange (PSX), TPL Properties is actively monitoring the site in conjunction with the expert committee to detect any residual gas leakage. The committee will determine the subsequent steps based on ongoing evaluations.

TPL Properties has extended its gratitude to the Government of Pakistan, the Technical Committee led by Pakistan Petroleum Limited (PPL), Oil and Gas Development Company Limited (OGDCL), and Pakistan Refinery Limited (PRL), as well as the Mayor of Karachi and other local authorities, for their support throughout the incident. The company also urged informing Trading Right Entitlement Certificate Holders of PSX about the developments.

The designated market category for TPL Properties Limited remains unaffected by these events, as the company continues to collaborate with relevant authorities to ensure safety and compliance.