KARACHI: The government provisionally awarded four new exploration blocks to the joint ventures of Pakistan Petroleum Ltd (PPL), Oil and Gas Development Company Ltd (OGDC) and Mari Petroleum Company Ltd (MPCL), the companies announced on the Pakistan Stock Exchange on Tuesday.

The operator of Shaigalu block will be PPL with a 40 per cent stake while MPCL and OGDC will control 30pc shareholding each.

The operator of South Pishin block will be MPCL with a share of 37pc. Its joint venture partner s will be PPL (35pc) and OGDC (28pc).

Tanishpa block will be operated by OGDC (37pc) with PPL and MPCL with 35pc and 28pc shareholding, respectively.

The last block of Lugai will have OGDC as its operator with a stake of 40pc. PPL and MPCL will control a 30pc stake each.-Staff Reporter