Overview
- Under the agreement, TPOC takes 25% and operatorship, PPL retains 35%, and OGDCL and Mari Energies hold 20% each.
- The transfer of operatorship to TPOC remains subject to required regulatory approvals.
- PPL disclosed the farm-out in a Pakistan Stock Exchange notice outlining the new consortium structure for Eastern Offshore Indus Block-C.
- OGDCL said its exploration track record and in-house seismic capabilities position it to contribute materially to offshore work.
- Mari Energies’ 20% acquisition marks its offshore entry, alongside separate engagements with Rio Tinto and BHP to assess Pakistan’s mineral potential.