Pakistani Consortium of E&P firm awarded Offshore Block 5 in Abu Dhabi

Islamabad: A consortium of Pakistani Oil and Gas Exploration and Production Companies comprising of Oil and Gas Development Company Limited (OGDCL), Mari Petroleum Company Limited (MPCL), Government Holdings (Private) Limited (GHPL) and Pakistan Petroleum Limited (PPL) (Operator) has been awarded Offshore Block 5 in Abu Dhabi’s second competitive exploration block bid round.

Offshore Block 5 covers an area of 6,223 square kilometers and is located 100 kilometers north east of Abu Dhabi city. The exploration concession agreement was signed today.

The Government of the United Arab Emirates (UAE) was represented by the Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC), H.E. Dr. Sultan Ahmed Al Jaber and Mr. Moin Raza Khan, MD PPL represented the consortium.

Federal Minister for Energy, Hammad Azhar in his message highlighted, “While Pakistan and UAE share long and friendly bilateral relations, this award is a new beginning for both on the energy front. As Pakistan addresses escalating energy demand in the country, such milestones for energy cooperation will surely assist the country towards bridging the energy supply and demand gap.”

This is the Emirate’s second competitive bidding round organized by ADNOC for the exploration, development and production of oil and gas. The historic agreement builds on the deep-rooted bilateral relationship between the UAE and the Islamic Republic of Pakistan.