On 20th May 2026,
Prime Global Energies Limited (“Prime”) is pleased to announce that its Chief Executive Officer, Mr. Kamran A. Mian has formally executed four Production Sharing Contracts (“PSCs”) in respect of offshore exploration blocks in Pakistan.
The signing ceremony was held at the Ministry of Energy (Petroleum Division), Government of Pakistan, and was graced by the Honorable Federal Minister for Petroleum, Mr. Ali Pervaiz Malik. The ceremony was also attended by the Secretary Petroleum, Mr. Hamid Yaqub Shaikh, the Additional Secretary Petroleum, Mr. Zafar Abbas, as well as senior representatives of the participating companies.
The PSCs include the Sapat Bandar Block (Block 2465-5), located in the Makran Offshore Basin, where Prime will act as Operator with a 31% working interest. The remaining interests are held by Pakistan Petroleum Limited, Mari Energies Limited, and Oil and Gas Development Company Limited, each holding 23%.
In addition, Prime holds a 20% working interest in the Zarrar Block (Block 2267-3), situated in the Indus Offshore Basin. The block is operated by Mari Energies Limited, which holds a 32% working interest, alongside Pakistan Petroleum Limited (24%) and Oil and Gas Development Company Limited (24%).
Prime has further secured a 20% working interest in both the Bin Qasim South Block (Block 2466-10) and the Keti Bandar Block (Block 2367-6). In each case, operatorship is held by Oil and Gas Development Company Limited with a 32% working interest, alongside Pakistan Petroleum Limited and Mari Energies Limited, each holding 24%.
The execution of these PSCs marks a significant milestone for Prime and underscore its commitment to support offshore exploration and development in Pakistan. The Company looks forward to collaborative engagement with the Government of Pakistan and its joint venture partners to advance exploration efforts and unlock the indigenous resource potential.