Assignment Deed Signed for Offshore Block

Source Press
Company ExxonMobilENIOGDCLPakistan Petroleum Limited 
Tags Asset Deals, Deals, Exploration, Upstream Activities
Date May 29, 2018

() Prime Minister Shahid Khaqan Abbasi on Monday witnessed the signing ceremony of Deed of Assignment of 25pc Participating Interest in Offshore Indus 6 (Block 2265-1).

The deed was executed among the Directorate General Petroleum Concession, Ministry of Energy-Petroleum Division, GHPL, Eni Pakistan Ltd (8.34pc),  ExxonMobil Exploration and Production Pakistan BV,  OGDCL (8.33pc) and PPL (8.33pc) to effectuate the transfer of participating interest.

The Block 2265-1 is considered one of the most promising blocks in offshore Pakistan. An ultra-deep exploration well is planned to be spud in the first quarter of 2019 in the Block for which preparations were underway.

Exploration success in offshore Pakistan will change the energy landscape of the country.

This assignment is of great significance as it is the continuation of an increased interest from major oil companies in offshore exploration with Eni, reconfirming its long lasting commitment to Pakistan and ExxonMobil returning after 33 years.

The joint venture is led by Eni Pakistan Ltd (Operator), a subsidiary of  Eni SpA.

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