/Equities/XLON/OGDC/RNS

Provisional Award of New Exploration Blocks

RNS Number : 6533F

Oil and Gas Development Company Ltd

08 November 2022

CS04-08 (PSX/LSE/SECP)

November 08, 2022

The General Manager,

Pakistan Stock Exchange Limited,
Stock Exchange Building,

Stock Exchange Road,
Karachi-74000, Pakistan.

Fax No. (92-21) 3241 0825, 3241 5136

London Stock Exchange Plc.,

10 Paternoster Square,

London EC4M 7LS.

Tel: (44) 20 7334 8907

Subject: Provisional Award of New Exploration Blocks

Dear Sir,

OGDCL had participated in the competitive bidding round for exploration blocks held in October 2022 and has been provisionally awarded four new exploration blocks by the Government. OGDCL will be the operator in two blocks. Details of the blocks provisionally awarded to OGDCL are as under:

S#	Block Name	Province	Operator (Working Interest)	JV Partner(s) (Working Interest)
1.	Lugai	Balochistan	OGDCL (40%)	PPL (30%) MPCL (30%)
2.	Tanishpa	Balochistan	OGDCL (37%)	PPL (35%) MPCL (28%)
3.	Shaigalu	Balochistan	PPL (40%)	OGDCL (30%) MPCL (30%)
4.	South Pishin	Balochistan	MPCL (37%)	OGDCL (28%) PPL (35%)

Participation in the bidding round is in furtherance of Company's strategy to invest in its core business, accelerate exploratory activities and augment hydrocarbon reserves balance.

The above information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.

Yours Sincerely,

(Ahmed Hayat Lak)

Company Secretary

Copy:

Director/HOD,

Surveillance, Supervision and Enforcement Department

Securities & Exchange Commission of Pakistan, NIC Building,

63 Jinnah Avenue, Blue Area,

Islamabad.

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