Pakistan Petroleum Restricted (PPL), an oil and gasoline exploration agency, has executed the Sui Improvement and Manufacturing Lease (D&PL) and Sui Petroleum Concession Settlement (PCA) with the federal government for continued operations of the Sui Gas Field.
The E&P, a key provider of pure gasoline within the nation, shared the event in a discover to the Pakistan Inventory Alternate (PSX) on Friday.
“We’re happy to announce the execution of the D&PL and the PCA with the Federal Authorities of Pakistan for continued operations of the Sui Gas Field,” learn the discover.
PPL said that in October 2024, a D&PL was granted for the Sui Gas Field, overlaying an space of 455.80 sq. kilometres, located in Dera Bugti district, Balochistan.
PPL secures 10-year lease for Sui Gas Field
“The lease has been granted for an preliminary time period of ten years, efficient from 1st June 2015 to thirty first Might 2025, in accordance with Rule 30A of the Pakistan Onshore Petroleum (Exploration and Manufacturing) Guidelines, 2013. Pursuant to the principles, the D&PL is eligible for extension,” added the corporate.
It’s pertinent to say that the Sui Gas Field, positioned in Balochistan, hosts the nation’s largest gasoline compressor station and purification plant.
Regardless of diminishing reserves over time, Sui Gas Field stays one of many largest pure gasoline-producing fields within the nation.
Moreover, the corporate, a sole working curiosity proprietor of the Sui Gas Field, has executed a Memorandum of Settlement (MoA) with the Authorities of Balochistan on 14th February 2025.
Underneath this MoA, the corporate has dedicated to implement initiatives, together with numerous social welfare initiatives underneath its Company Social Duty (CSR) program underneath the phrases of D&PL and PCA, learn the discover.
“The corporate is obligated to make funds towards the lease extension bonus and fulfill different monetary commitments underneath the D&PL and PCA. The long run preparations past thirty first Might 2025, will likely be mutually agreed inside the validity interval of the D&PL, in accordance with the principles,” it concluded.
