The Hub Power Company Ltd (HUBCO) has announced that its joint venture arm has secured provisional exploration rights in four onshore oil and gas blocks, marking a significant expansion of the company’s footprint in Pakistan’s upstream energy sector.
In a notice to the Pakistan Stock Exchange on Friday, HUBCO said the award was granted to Prime Global Energies Limited — a wholly owned subsidiary of Prime International Oil and Gas Company Limited, itself a joint venture of Hub Power Holdings Limited.
“We are pleased to inform that, subject to approval from regulatory authorities and completion of legal and procedural formalities, Prime’s wholly owned subsidiary, Prime Global Energies Limited, has been provisionally awarded exploration rights over 4 (four) onshore blocks,” the company stated in the disclosure.
According to the filing, the blocks include Sapat Bandar (2465-5), where Prime will act as operator with a 31 percent working interest; Zarrar (2267-3) with a 20 percent share; Keti Bandar (2367-6) also with a 20 percent share; and Bin Qasim South (2466-10), where Prime will hold another 20 percent stake.
HUBCO added that Prime Global Energies will operate alongside major state-owned and private exploration partners. The notice listed Pakistan Petroleum Limited (PPL), Mari Energies Limited (Mari), and Oil and Gas Development Company Limited (OGDCL) as joint venture participants across the awarded blocks.
HUBCO said the transaction remains subject to approval from regulatory authorities and completion of legal and procedural formalities, adding that further updates will be communicated as the process advances.
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