Wedoany.com Report-Dec 13, Oil and Gas Development Company Limited (OGDCL), along with its consortium partners Pakistan Petroleum Limited (PPL) and Government Holdings (Private) Limited (GHPL), has successfully secured a 49% working interest in the Miran Block.

The E&P giant shared this development with the Pakistan Stock Exchange (PSX) through a notice on Wednesday.

“We are pleased to inform you that the OGDCL-led consortium emerged successful in the second bidding round,” the company said in its notice to the PSX.

The bidding round, conducted by Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL), awarded OGDCL a 29% operatorship stake, with PPL and GHPL holding 10% each as joint venture partners.

The company said that participation in the bidding round aligns with the Company’s strategy to invest in its core business, accelerate exploratory activities, and augment hydrocarbon reserves.