PPL set to acquire MND Exploration

Pakistan Petroleum Limited (PPL) has been declared a preferred bidder for 100 percent share purchase of MND Exploration and Production Limited, a document sent to Karachi Stock Exchange (KSE) said here on Monday. PPL's board of directors had already approved the company's participation in the bidding for MND's corporate acquisition.
MND Exploration and Production Limited, a wholly-owned subsidiary of KKCG SE, is incorporated in the United Kingdom (UK) and its non-operated assets in Pakistan include Sawan Development and Production Lease (7.8947 percent) and exploration licenses; Ziarat Block (40 percent); Harnai (40 percent) and Barkhan (50 percent). Moreover, MND holds 20 percent non-operated participation interest of Block-3 in Yemen.