Pakistan Petroleum Limited awarded two new blocks for hydrocarbon exploration

Pakistan Petroleum Limited (PPL) has been provisionally awarded two new blocks, Kalat South and Ziarat North, for hydrocarbon exploration, according to a filing by the company at the Pakistan Stock Exchange (PSX) on Wednesday. 

The award was made following competitive bidding held by the Government of Pakistan on April 30, 2025.

The two blocks will be operated by PPL, with joint venture partners including Mari Energies Limited, Oil and Gas Development Company Limited, and Turkish Petroleum Overseas Company. 

PPL will hold a 40% stake in the Kalat South block and a 24.87% stake in the Ziarat North block, with other partners holding varying shares.

The arrangement is contingent upon the completion of necessary regulatory approvals, including the execution of Petroleum Concession Agreements and Exploration Licenses. 

The government’s move highlights its ongoing efforts to expand the country’s energy resources through joint ventures and collaborations in the energy sector.