ADNOC awards Offshore Block 5 to PPL-led Pakistani consortium

ADNOC awards Offshore Block 5 to PPL-led Pakistani consortium

02 Sep 2021

The Abu Dhabi National Oil Company (ADNOC) has awarded the exploration rights to Offshore Block 5 to a consortium of four Pakistani companies led by Pakistan Petroleum (PPL). The other three companies in the consortium are Mali Petroleum, Oil and Gas Development Corporation and Government Holding (Private) Limited.

The offshore block is part of the second competitive block bid round launched by Abu Dhabi in 2019. Furthermore, according to ADNOC, the Pakistani consortium will invest up to AED1.12b (US$304.7m) in exploration and appraisal drilling. This includes participation fees for exploring and appraising oil and gas opportunities.

ADNOC said that this is the first time Pakistani companies have invested and participated in oil and gas exploration in an Abu Dhabi concession.

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