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Abu Dhabi Offshore Exploration Block Awarded to a Consortium led by Pakistan Petroleum Limited in Historic Concession Agreement
First-time Pakistani companies will invest in and explore for oil and gas in an Abu Dhabi concession

Award builds on the deep-rooted bilateral ties between the UAE and Pakistan

Pakistan Petroleum Limited led consortium awarded concession for Offshore Block 5 and will invest $304.7 million (AED1.12 billion) during the exploration phase

Award underscores ADNOC’s expanded approach to strategic partnerships and concludes Abu Dhabi’s second competitive block bid round

The Abu Dhabi National Oil Company (ADNOC) announced today, the signing of a historic exploration concession agreement, awarding the exploration rights for Abu Dhabi’s Offshore Block 5 to a consortium of four Pakistani companies – Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited (MPCL), Oil and Gas Development Company Limited (OGDCL), and Government Holdings (Private) Limited (GHPL) – in Abu Dhabi’s second competitive block bid round. The consortium is led by PPL.

The award marks the first time Pakistani companies invest in and explore for oil and gas in an Abu Dhabi concession as well as the first time ADNOC partners with Pakistani energy companies.

The historic agreement builds on the deep-rooted bilateral relationship between the United Arab Emirates (UAE) and the Islamic Republic of Pakistan and underscores ADNOC’s expanded approach to strategic partnerships, including those who can provide access to key growth markets for the company’s crude oil and products.

The exploration concession agreement was signed by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, and Moin Raza Khan, Managing Director and CEO of PPL.

H.E. Dr. Al Jaber said: “This historic exploration concession award marks a new chapter of energy cooperation in the 50-year old UAE-Pakistan relationship. It represents an important platform upon which we can drive win-win opportunities to support Pakistan’s energy security and further strengthen the strategic and economic ties between our two countries. We are delighted to partner with Pakistan Petroleum Limited and the other members of the consortium on Offshore Block 5.