The Economic Coordination Committee (ECC) of the cabinet is expected to allow a consortium of Pakistan’s state-owned companies to participate in the bidding round for an offshore block in Abu Dhabi.
Abu Dhabi National Oil Company (Adnoc) will undertake the bidding process for awarding the offshore block to oil and gas exploration companies by December 31 this year.
Pakistan’s state-owned oil and gas exploration firms including Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) are set to establish their footprint in offshore drilling outside Pakistan by participating in the bidding round in Abu Dhabi.
PPL, OGDC, Mari Petroleum Company Limited (MPCL) and Govt Holding Private Limited (GHPL) have decided to form a consortium for the bidding.