Eni Buys Stake in Pakistani Offshore Block

Eni has signed an agreement with the Pakistani authorities and the state oil and gas company OGDCL for the acquisition of 25% and the operatorship of exploration license Offshore Indus Block G, located in Pakistan's Indus Basin.

The Block, which is approximately 7,500 square kilometers, is located in ultra deep water of an underexplored and promising area offshore Pakistan. “The planned exploration activities in the newly acquired block will initially comprise of a multi-disciplinary study to define the most appropriate way forward for exploring Offshore Indus Block G,” the company said.

The Joint Venture managing the block is composed of the two state companies OGDCL (25%) and PPL (25%), Eni (25%, operator) and United Energy Pakistan Limited (25%).

The Italian firm already has significant participating interest in other offshore blocks such as Indus Block C (Eni 60%) and Block N (Eni 70%), which are close to the newly acquired Offshore Indus Block G.