Karachi: Pakistan Petroleum Limited (PPL) has been provisionally awarded two new blocks, Kalat South (2865-5) and Ziarat North (2966-3), for hydrocarbon exploration. The competitive bidding process, held by the Government of Pakistan, concluded on April 30, 2025. The blocks will be developed by joint ventures involving PPL and several other exploration and production companies.

The Kalat South block will be operated by Pakistan Petroleum Limited, which holds a 40 percent working interest. Mari Energies Limited and Oil and Gas Development Company Limited will each hold a 30 percent stake in the venture.

In the Ziarat North block, the consortium is led by Mari Energies Limited with a 33.16 percent interest. Pakistan Petroleum Limited and Oil and Gas Development Company Limited will each have a 24.87 percent stake, while Government Holdings Private Limited is assigned a 7.1 percent share. Turkish Petroleum Overseas Company holds the remaining 10 percent interest.

According to information available from the Pakistan Stock Exchange (PSX), the award of these blocks is contingent upon the execution of Petroleum Concession Agreements, the granting of Exploration Licenses, and the completion of Joint Operating Agreements among the joint venture partners. Additionally, the process requires the fulfillment of relevant legal, regulatory, and procedural formalities.

The developments mark a significant step for Pakistan Petroleum Limited and its partners in expanding their exploration activities in Pakistan's energy sector. The designated market category for this announcement is the Exploration and Production (E&P) sector.