PAKISTAN - Oil and Gas Development Company Ltd has completed its acquisition of an additional 7.99% working interest in the Qadirpur Development & Production Lease, increasing its total stake in the concession to 82.99% from 75.00%.
The transaction, initially disclosed on January 23, 2025, involved a farm-in agreement with KUFPEC Pakistan B.V. The transfer was completed following approval from the Government of Pakistan and execution of the Deed of Assignment under Rule 8 and Rule 9 of the Pakistan Onshore Petroleum (Exploration and Production) Rules, 1986.
The Qadirpur D&PL is located in Concession Area Block 2667-1. The company announced the completion in a statement to the Pakistan Stock Exchange and London Stock Exchange on Thursday.
The information was disclosed in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations, according to the press release statement.
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