About Us
The Company is involved in the oil and gas Exploration & Production business having an Offshore Block 5 Exploration Concession granted by the Supreme Council for Financial and Economic Affairs (SCFEA) of Abu Dhabi in August 2021.
Pakistan International Oil Limited is incorporated in Abu Dhabi Global Market (ADGM) with a branch office on mainland Abu Dhabi. The Company’s shares are equally held by the ‘big four’ national exploration and production companies of Pakistan who have more than 150 years of combined E&P experience.
The shareholders of the Company are Pakistan Petroleum Limited (www.ppl.com.pk), Oil & Gas Development Company Limited (www.ogdcl.com), Mari Petroleum Company Limited (www.mpcl.com.pk) and Government Holdings Private Limited (www.ghpl.com.pk). PPL, being the management shareholder of the Company is responsible for the management and operations of the Company in the UAE.
This concession award is the first opportunity for Pakistani E&P companies to explore, appraise and develop oil and gas resources in Abu Dhabi, along with establishing a strategic partnership with ADNOC. Under the terms of the agreement, the Company holds a 100 percent stake in the exploration phase with ADNOC having an option to acquire upto 60 percent stake during the production phase.
