On 26th February 2026,
Prime Global Energies Limited has formally entered into a Petroleum Concession Agreement (PCA) with the Oil and Gas Development Company Limited (OGDCL) and the President of the Islamic Republic of Pakistan for the Naing Sharif Block, marking a major step forward in the company’s upstream exploration portfolio.
The signing ceremony took place in Islamabad in the presence of Federal Minister for Petroleum Mr. Ali Pervaiz Malik, reflecting strong government backing for private-public collaboration in expanding domestic energy production.
Under the PCA, OGDCL will serve as operator of the block, holding a 70% working interest, while Prime Global Energies will hold a 30% working interest. The Naing Sharif Block is situated in the Jamshoro District of Sindh — a region with considerable unexplored hydrocarbon potential.
The joint venture is designed to combine OGDCL’s operational depth with Prime Global’s investment and technical capabilities, with the shared objective of unlocking new domestic reserves, strengthening energy security, and reducing the country’s dependence on imported energy.