Material information- Miran Block (3269-2)

Oil and Gas Development Company Ltd

10 December 2024

 

CS04-08 (PSX/LSE/SECP)

December 10, 2024

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi-74000, Pakistan.

London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS. Tel: [phone]

Subject:          FARM OUT OF 49% WORKING INTERST IN MIRAN BLOCK (3269-2)

Dear Sir,

OGDCL participated in the bidding round for Miran Block located in North Waziristan and Kurram Districts of Khyber Pakhtunkhwa (KPK), announced by M/s Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) to acquire 29% working interest with operatorship of Miran Block, in consortium with M/s Pakistan Petroleum Limited (PPL) and Government Holdings (Private) Limited (GHPL), which hold 10% working interest each as joint venture partners. We are pleased to inform you that OGDCL-led consortium, emerged successful in the second bidding round.

2.       Participation in the bidding round aligns with the Company's strategy to invest in its core business, accelerate exploratory activities, and augment hydrocarbon reserves.

3.       The above information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.

Yours Sincerely,

 

(Wasim Ahmad)

Company Secretary

Copy:

Director/HOD,

Office -II Department, Supervision Department

Securities & Exchange Commission of Pakistan,

NIC Building, 63 Jinnah Avenue, Blue Area,

Islamabad.

 

END