Islamabad, 12 June 2025: PIOL Joins ADNOC in what is being hailed as a landmark development in the international oil and gas sector, as a Pakistani-led consortium has entered into a major agreement to participate in Abu Dhabi’s offshore energy resources.
Mari Energies Limited has officially confirmed the finalization of a Production Concession Agreement (PCA) for the development of Offshore Block 5 in Abu Dhabi.
The agreement, endorsed by the Supreme Council for Financial and Economic Affairs (SCFEA) on behalf of the Government of the Emirate of Abu Dhabi, represents a significant step in regional energy collaboration.
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The PCA was executed with Abu Dhabi National Oil Company (ADNOC), one of the world’s leading energy producers, and Pakistan International Oil Limited (PIOL) a special purpose vehicle jointly owned by Pakistan Petroleum Limited (PPL), Oil and Gas Development Company Limited (OGDCL), Mari Energies Limited, and Government Holdings (Private) Limited (GHPL).
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Under the terms of the partnership, PIOL will hold a 40% participating interest, aligning its investment and operational efforts alongside ADNOC for the exploration and production of hydrocarbon resources in the offshore block.
The announcement originally disclosed to the Pakistan Stock Exchange in compliance with Section 96 of the Securities Act, 2015 has been met with optimism from analysts who view it as a defining moment for Pakistan’s upstream energy footprint.
PIOL Joins ADNOC, marking the first time a Pakistani consortium has gained entry into Abu Dhabi’s offshore oil and gas sector at this scale. It also reflects deepening economic ties and strategic alignment in the broader Middle East energy corridor.
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Speaking on behalf of Mari Energies Limited, Company Secretary Brig. Sumair Ashraf Sheikh (Retd) emphasized the importance of this joint venture for regional energy security and Pakistan’s growing role in global exploration initiatives.
As industry observers continue to track developments in the offshore block, the collaboration is expected to bolster Pakistan’s technical expertise, while opening up new avenues for foreign energy investments and resource diversification.
This milestone where PIOL Joins ADNOC in a high-value, cross-border partnership is being positioned as a transformative leap for Pakistan’s hydrocarbon industry on the global stage.
