KARACHI: Pakistan Petroleum Limited (PPL) has clarified the status of Sui Development and Production Lease. The Company wishes to address recent news reports regarding Sui Development and Production Lease (D&PL), based on approvals from the Federal Cabinet and the Economic Coordination Committee.
According to press release issued here on Friday, the Company emphasise that discussions with the relevant authorities and stakeholders remain positive and ongoing. The execution of D&PL is contingent upon the signing of Sui Petroleum Concession Agreement and fulfilment of terms specified in the Lease.
PPL wishes to clear any misperception that may have arisen due to the recent publication, and reaffirms its dedication to a positive, collaborative partnership with the Government of Balochistan (GoB).
PPL remains steadfast in its commitment to actively engage with Balochistan government and to continue supporting the development and welfare of communities in Dera Bugti, Sui and across the province.
Notwithstanding above, the execution of lease beside Royalty shall attract Lease Extension and Production Bonus, approximately Rs 58.5 Billion over the duration of the lease period.
