Continuation of Production from the Sui Mining Lease of Pakistan Petroleum Limited.

Karachi: Pakistan Petroleum Limited informed Pakistan Stock Exchange that the Sui mining lease area has been exempted by the Government of Pakistan from the application of Rule 34 of the Company (Production) Rules, 1949, to the extent that the Company has been allowed to continue production from the Sui mining lease for another period of six months with effect from the expiry of the existing lease period on November 30, 2020.

Pakistan Petroleum Limited was incorporated in Pakistan in 1950. The objectives of company include conducting exploration, prospecting, development and production of oil and natural gas resources. The subsidiaries of the company are PPL Europe E&P Limited formerly MND Exploration and Production Limited, PPL Asia DMCC and the Pakistan Petroleum Provident Fund Trust Company Private Limited. The jointly controlled entity is Bolan Mining Enterprises with 50% shareholding. The registered office of the company is located in Karachi. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan.

The operations of the company include production of natural gas, crude oil, liquid natural gas and liquefied petroleum gas. The company was incorporated in Pakistan as a public limited company in June 1950. The...