PPL, Gob Sign Moa for Sui Development, Production Lease
Pakistan Petroleum Limited (PPL) and the Government of Balochistan (GoB) have reached a significant milestone by signing a Memorandum of Agreement, a crucial step towards executing the Petroleum Concession Agreement (PCA) for the Sui Development and Production Lease (D&PL).
The signing ceremony, held at Sui, District Dera Bugti, was graced by the Chief Minister of Balochistan, Mir Sarfraz Bugti, as the Chief Guest, alongside the Federal Minister for Planning, Development & Special Initiatives, Mr Ahsan Iqbal, Senator Shahzaib Durrani, Senator Danesh Kumar, senior government officials, dignitaries, and key stakeholders.
The Managing Director and Chief Executive Officer of PPL, Mr. Imran Abbasy, and Secretary Energy Department, Government of Balochistan, Mr. Muhammad Dawood Bazai, formally signed the agreement on behalf of their respective entities. Under this landmark agreement, PPL will contribute approximately Rs. 60 billion to the Government of Balochistan in the form of Lease Extension Bonuses, Production Bonuses, and Social Welfare Obligations.(14-02-2025)