Oil & Gas Development Company Limited (OGDCL) and PARCO ink MOU for new projects as part of business diversification and energy transition strategy. This MOU was signed for collaboration and Joint Venture Opportunities in the Energy Sector, including Oil & Gas infrastructure projects. Both sides will constitute joint working groups to evaluate opportunities, undertake feasibilities and establish joint ventures for commercially, technically and economically feasible projects.

OGDCL & PARCO have joined hands to explore opportunities for business growth to ensure term sustainability and enhance shareholders’ value. In the 1st phase, world-class consultants would be engaged to identify and evaluate new opportunities. Both companies have also identified certain specific projects and areas of cooperation, which will help materialise tangible progress on a fast-track basis.

The companies were represented by Mr Ahmed Hayat Lak-MD/CEO OGDCL &, Mr. Shahid Mahmood Khan-MD PARCO and witnessed by Senior Management of both companies.