Pakistan Petroleum Ltd (PPL) has assigned 25% working interest in BelaÂ WestÂ 2566-6Â EL (Bela-Muslimbagh-Zhob Ophiolite Belt) onshore licence to Mari Petroleum Company Ltd (MPCL) with effect from 19 August 2019. As a result of this transaction, the revised equity split is as follows: PPL (37.5%, operator), Kirthar Petroleum Ltd BV (35%), MPCL (25%) and GHPL (2.5%). Bela West EL covers an area of 2,455 sq km and is located in the Khuzdar, Awaran and Lasbela districts of Balochistan province.     PPL is currently drilling the Bela West X-1 new field wildcat (NFW) well in the licence which has reached a depth of 4,345 m depth during late July 2019. This is the companyâs first well in the block and the drilling operation is expected to be completed in August 2019.  Â   Background Information  PPL was awarded the Bela West licence with the signing of a Petroleum Concession Agreement (PCA) on 10 February 2014. PPL acquired 609 line km 2D seismic in the block during June-November 2015 using the BGP â9501-Eâ seismic crew. The company was granted an 18-month extension to the Phase-I of initial term of BelaÂ WestÂ EL from 10 February 2017 to 9 August 2018. It was followed by a further six-month extension up to 9 February 2019.    It was reported in March 2019 that PPL had assigned a 2.5% working interest in the BelaÂ WestÂ EL to GHPL which was made effective retrospectively from 28 February 2014. As a result of this transaction the revised equity split was as follows: PPL (62.5%, operator), Kirthar Petroleum Ltd BV (35%) and GHPL (2.5%).   PPL was granted a 12-month extension to the Phase-I of initial term of BelaÂ WestÂ EL from 10 February 2019 to 9 February 2020.
PPL have assigned 25% WI to Mari Petroleum Co Ltd (MPCL) in the Bela West 2566-6 EL .