By Jaime Llinares Taboada


Oil & Gas Development Co. said Friday that it will invest up to $100 million into a new partnership with Pakistan Petroleum Ltd., Mari Petroleum Company Ltd. and Government Holding (Private) Ltd.

The Pakistani oil-and-gas company said the consortium has submitted a bid for one of the blocks offered in the Abu Dhabi Bid Round 2019.

Each partner will have a 25% stake in the special purpose vehicle. They have committed a combined investment of up to $400 million over five years.


Write to Jaime Llinares Taboada at; @JaimeLlinaresT


(END) Dow Jones Newswires

June 25, 2021 04:42 ET (08:42 GMT)

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