PAKISTAN
Fatima Petroleum Company Limited (FPCL), a wholly owned subsidiary of Fatima Group, has been provisionally awarded participation interests in two offshore exploration blocks by the Directorate General of Petroleum Concessions (DGPC), the company informed the Pakistan Stock Exchange (PSX) on Friday.
The announcement was made in a notice submitted under Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book.
According to the notice, FPCL has secured participation interests in the following Indus Offshore blocks:
Offshore Deep C (2366-10): FPCL holds a 15% participating interest, alongside TPOC with 15%, while Mari Energies will serve as the operator with a 70% interest.
Offshore Deep F (2366-12): FPCL has also secured a 15% participating interest, with TPOC holding 15% and Mari Energies acting as the operator with a 70% share.
The company stated that these provisional awards mark an important step in expanding its exploration footprint into offshore basins, which are viewed as high-potential areas for future hydrocarbon discoveries. – ER News Desk
READ MORE
Leave a Reply