Pakistan Petroleum Ltd. (PPL) has clarified official agreements with the federal government in Pakistan to continue operations in the SUI gas field, and to secure the extension of the lease contract for a period of 10 years through a lease and development contract (D & L PL) and the Petroleum Convention (PCA), according to the submission of the stock market Pakistani (PSX) on Friday.
PPL said that a lease contract for development and production was granted to the Sui Gas field, which covers an area of 455.80 square kilometers, located in Dera dera Bugti, Baluchistan.
The rental contract for a preliminary period of ten years (10) years was granted from June 1, 2015 to May 31, 2025, according to the 30A rule of Pakistani cold oil bases (exploration and production), 2013. According to the rules, the lease contract is still qualified for more extension After the expiration date.
In addition, PPL, the owner of a single action department at Sui Gas Field, implemented the MAM (MAA) memo with the Baluchistan government at an official signing ceremony held in the Sui field on February 14, 2025.
Under this Ministry of Agriculture, PPL committed to implementing specific initiatives, including various social welfare initiatives within the framework of the Corporate Social Responsibility Program (CSR) in accordance with the conditions for renting and rental production and the oil concession agreement.
The company is also obligated to make payments for the reward for extending the lease and fulfilling other financial obligations under D& La and PCA. Future arrangements will be agreed upon after May 31, 2025, during the D & L health period.
The agreement confirms the continuous PPL commitment to maintaining natural gas production in the largest gas field in Pakistan while engaging in the social development initiatives of the local community.
Pakistan Petroleum Ltd. in 1950 was combined with the main objectives of exploring, exploration, developing and producing oil and natural gas resources.
