Mission Chief Nathan Porter says circular debt ‘reduction plan’ entails fiscal risks given chain of transactions involved and would also continue use of supplementary grants
Lack of clarity on political front, delays and uncertainty on formation of new govt along with reports around circular debt management plan drive negative sentiment
MoU signed between both companies for cooperation/collaboration and joint investment strategy for setting up project under consortium arrangement with foreign investors
As per details, the OGDCL as the operator (95 percent) and Government Holding (Private) Limited (5%) has discovered gas and condensate from its exploratory well Sial-1, which is located in district Hyderabad, Sindh province.
The blocks have been awarded after competitive bidding, on the basis of work units committed by different E&P Companies in the Block Bidding Round 2020 arranged by the Government.
The Joint Venture of Baratai Block comprising OGDCL as operator (97.5%) and Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) (2.5%) has discovered Gas & Condensate from its exploratory Well Siab-1, announced the company on Friday.
As per details, ODGCL, Mari Petroleum Company Limited, and Saif Energy Limited has made a gas and condensate discovery from its exploratory efforts at Togh Bala Well No. 01.