Karachi: Ghani Chemical Industries Limited (GCIL) has announced its involvement in a major project concerning the Jandran Field, following a Letter of Intent (LOI) from Oil & Gas Development Company Limited (OGDCL) for the purchase of raw saturated gas. The announcement was made in a disclosure of material information dated September 1, 2026, in adherence to the Securities Act, 2015, and the regulations of the Pakistan Stock Exchange Limited.

GCIL has entered into a binding agreement with an undisclosed third party, which received the LOI from OGDCL. According to the agreement, GCIL will be responsible for the technical and financial execution of the proposed project. This includes the development, installation, commissioning, and operation of the necessary gas-processing facilities. The project will extend to the processing, transportation, marketing, and sale of gas produced from the Jandran Field.

The project is contingent upon several factors, including the negotiation and execution of a definitive Gas Sale and Purchase Agreement (GSPA) with OGDCL, completion of technical and commercial arrangements, and obtaining all corporate, contractual, regulatory, and governmental approvals. According to information available from the Pakistan Stock Exchange (PSX), the project may proceed either directly through GCIL or via a special purpose vehicle (SPV), pending completion of due diligence and finalization of project structure.

The endeavor aims to facilitate the commercial utilization of gas resources from the Jandran Field through the establishment of appropriate processing infrastructure. Details regarding the project's capacity, capital expenditure, financing, implementation timeline, and commercial terms will be determined after completing necessary technical studies and negotiations.

The LOI and binding agreement mark significant preliminary stages toward potential project development. However, they do not signify the onset of commercial operations or guarantee revenue or profitability for GCIL at this juncture. The project remains subject to various conditions and uncertainties.

Further disclosures concerning critical developments, such as the execution of the GSPA, approval of final project structures, financial closure, and commencement of project implementation, will be made by GCIL in compliance with legal and regulatory requirements.