KARACHI: A consortium of Pakistan’s oil and gas exploration companies on Friday announced its plan to invest $400 million in the oil exploration sector of the United Arab Emirates by participating in a bidding process organized by the Abu Dhabi National Oil Company (ADNOC).
The consortium comprising the Oil and Gas Development Company Limited (OGDCL), Mari Petroleum Company Limited (MPCL), Pakistan Petroleum Limited (PPL), and Government Holding (Private) Limited has decided to incorporate a company/special purpose vehicle by the name of "NewCo" in Abu Dhabi Global Market and Pakistan, the OGDCL said in an information disclosure notice to the Pakistan Stock Exchange (PSX) on Friday.
“Each consortium partner has a 25% shareholding in the company,” the statement said. “The consortium has submitted a bid for one of the blocks offered in the Abu Dhabi Bid Round 2019 and incorporation of the NewCo is one of the conditions to qualify for the award.”
The Economic Coordination Committee of the Cabinet (ECC) had allowed the consortium to submit the bid in 2019, asking its members to make the initial investment through their own resources in keeping with the size of their shares.
Five blocks have been announced for the commercially competitive bidding in the upcoming round in Abu Dhabi, three of which are offshore and two onshore, according to the information posted on the ADNOC website.
The Pakistani consortium clarified in its statement that the award would be granted by the Supreme Council for Finance and Economic Affairs (SCFEA) of the Emirate of Abu Dhabi, adding that no decision in this regard had yet been taken.
According to the information shared by the OGDCL, each consortium company will invest up to $100 million in case of a successful bid, taking the total financing to $400 million.
If the block is not awarded to the consortium, however, the companies have also agreed to dissolve NewCo.
Asked about the initiative, experts said it could turn out to be a good opportunity for the Pakistani companies.
“They have submitted the bid for offshore exploration which will help them earn huge profits if they win the award and their drilling remains successful,” Tahir Abbas, director research at Arif Habib, told Arab News.
He added that working with the ADNOC could also produce several exciting opportunities for the consortium in future.
The UAE is the world’s seventh-largest oil producer which has about 96 percent of oil reserves in Abu Dhabi.
Located in one of the world’s largest hydrocarbon super-basins, much of its stocks of oil and gas remain undiscovered and untapped.
Pakistani consortium plans to invest $400 million in UAE oil exploration sector
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Pakistani consortium plans to invest $400 million in UAE oil exploration sector
- The consortium has submitted its bid for an offshore block in a process organized by the Abu Dhabi National Oil Company
- Located in one of the largest hydrocarbon super-basins, the UAE is the seventh-largest oil producer in the world
Pakistani companies target global dental markets at Dubai expo
- More than 40 Pakistani companies participate, reflecting growing export ambition in oral healthcare
- Dubai exhibition draws 85,000 visitors, spotlighting digital dentistry and AI-driven innovations
ISLAMABAD: Pakistan has set up its pavilion at the AEEDC 2026 exhibition in Dubai, where more than 40 Pakistani companies are showcasing the country’s growing capabilities in dental and oral healthcare, the Pakistani consulate said on Monday.
The 30th edition of the UAE International Dental Conference & Arab Dental Exhibition, or AEEDC 2026, is being held at the Dubai World Trade Centre on Jan. 19-21, according to the Pakistani consulate in Dubai.
It features 3,900 exhibitors and welcomes over 85,000 attendees from 177 participating countries, reflecting the diversity, innovation and rapid advancement of modern dentistry.
Pakistan is represented at the exhibition by eight companies, under the umbrella of the Trade Development Authority of Pakistan (TDAP), alongside more than 35 Pakistani companies participating privately.
"Participation in leading international exhibitions such as AEEDC Dubai provides Pakistani companies with opportunities to expand their business outreach, enhance global visibility, and capture international markets," Pakistan's Trade & Investment Counsellor Ali Zeb Khan said after inaugurating the country's pavilion at the exhibition.
The event features innovation and advancement in dentistry, including artificial intelligence applications, laser therapies, pediatric dental and oral radiology, microscopic procedures and infection control in oral health.
Pakistan's participation in the exhibition comes at a time when Islamabad seeks to expand its footprint in the global healthcare market and boost exports of dental products and services.
International platforms such as AEEDC are vital to highlighting Pakistan’s potential to the UAE, Gulf Cooperation Council (GCC) markets, and beyond.
