Karachi: The Oil and Gas Development Company Limited (OGDCL) has secured provisional rights for petroleum exploration over seven new blocks following a competitive bidding round conducted by the Government of Pakistan in April 2025. The Ministry of Energy (Petroleum Division) communicated the provisional award to OGDCL along with other entities, namely 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).

The awarded blocks are contingent upon the formal execution of Exploration Licenses and Petroleum Concession Agreements (PCAs). OGDCL is designated as the operator for several blocks, with varying working interests shared among its joint venture partners.

According to the details, OGDCL will have a 100% working interest in the Kalat North block in Balochistan, while it will operate with a 70% interest in the Naing Sharif block in Sindh, partnering with Prime who holds the remaining 30%. In Punjab, OGDCL will manage the Khiu-II block with a 60% stake alongside Mari's 40%.

In Balochistan, OGDCL will hold a 40% interest in the Ahmad Wal block, with Mari operating at 60%. The Kalat South block will see OGDCL partnering with a 30% interest, while PPL operates with a 40% interest and Mari holds another 30%. The Sukhpur-II block in Sindh involves OGDCL holding a 30% interest, with Prime operating at 25%, Mari at 30%, and TPOC at 15%. Lastly, in the Ziarat North block in Balochistan, OGDCL has a 24.87% interest, with Mari operating at 33.16%, PPL sharing another 24.87%, GHPL at 7.10%, and TPOC at 10%.

According to information available from the Pakistan Stock Exchange (PSX), the provisional awards are in line with OGDCL's strategic plan to invest in core business areas, speed up exploratory activities, and enhance the hydrocarbon reserves balance. This move is part of OGDCL's ongoing efforts to expand its exploration footprint and strengthen its resource base.

This development was disclosed in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations, ensuring transparency and dissemination among stakeholders.