Oil & Gas Development Company Limited (OGDC), one of Pakistan’s leading energy companies, has announced its participation in three strategic exploration blocks, enhancing its presence in both offshore and onshore hydrocarbon ventures. The development was officially disclosed in a filing submitted to the Pakistan Stock Exchange (PSX) earlier today, highlighting OGDC’s commitment to expanding exploration activities in partnership with major industry players.
The new agreements include one offshore block and two onshore blocks, reflecting OGDC’s balanced approach to tapping both deepwater and terrestrial resources. In the Eastern Offshore Indus-C Block, OGDC has secured a 20 percent participating interest alongside Turkish Petroleum Oil Company (TPOC), which holds 25 percent, Pakistan Petroleum Limited (PPL) with 35 percent, and Mari Energies Limited at 20 percent. This offshore block is expected to leverage international expertise in deepwater exploration while offering substantial potential for hydrocarbon discovery.
For onshore projects, OGDC has joined the Ziarat North Block with a 24.87 percent participating interest. The block is operated by Mari Energies with a 33.16 percent stake, while TPOC holds 10 percent, PPL another 24.87 percent, and Government Holdings (Private) Limited (GHPL) maintains a 7.10 percent interest. The onshore partnership aims to optimize the region’s exploration potential by combining local operational experience with international technical knowledge.
OGDC has also obtained a 30 percent participating interest in the Sukhpur-II Block, which is operated by Prime International Oil & Gas Company Limited holding 25 percent. Mari Energies holds an additional 30 percent and TPOC a 15 percent stake. This block is strategically significant due to its prospective hydrocarbon reserves and the collaborative expertise offered by the joint venture partners.
Through these acquisitions, OGDC reinforces its strategy of expanding its exploration footprint while fostering collaboration with both domestic and international oil and gas companies. Analysts note that the partnerships provide opportunities for technology transfer, enhanced operational efficiency, and increased probability of discovering commercially viable reserves, supporting Pakistan’s broader energy security goals.
The announcement comes at a time when OGDC shares were trading at Rs266.9, reflecting a minor decrease of Rs0.49 or 0.18 percent. Despite this marginal fluctuation, market observers view the strategic block acquisitions as a long-term positive for the company, signaling potential future growth in production capacity and revenue generation.
Experts also suggest that by securing a mix of offshore and onshore interests, OGDC is positioning itself to benefit from both immediate onshore exploration opportunities and longer-term offshore potential, diversifying its asset base and strengthening its market presence. These developments align with Pakistan’s ongoing efforts to enhance domestic energy production, reduce reliance on imports, and ensure sustainable economic growth.
With its latest expansion in the exploration sector, OGDC demonstrates continued leadership in Pakistan’s energy landscape, leveraging strategic partnerships to drive innovation, exploration success, and national energy security. As the company advances its exploration agenda, industry stakeholders will closely monitor progress in these blocks for potential discoveries and production milestones, underscoring OGDC’s central role in shaping the country’s hydrocarbon future.
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