Government Holdings (Private) Limited (GHPL) was established in the year 2000 as a private limited company, 100% owned by the Government of Pakistan and registered under the Companies Ordinance, 1984. Paid up Capital of the company is Rs. 250 Million.
The company was created to separate the commercial and regulatory functions as these were being jointly handled by the Ministry of Petroleum & Natural Resources. Government of Pakistan’s shares in upstream petroleum joint ventures acquired under the petroleum policies prior to the introduction of Petroleum Policy 2001 were transferred to it and GHPL became the vehicle to manage those interests. The provision regarding Government of Pakistan’s 5% carried interest in all concessions at the exploration stage and shareholding of 15% to 25% in case of commercial discovery depending upon the zone was withdrawn in the Petroleum Policy 2001; GHPL was however given right to make investment on full participation basis like any other local company in on-shore petroleum E&P joint ventures.
GHPL participates in all Joint Ventures as non-operator.
There are currently 56 upstream petroleum joint ventures on-shore with GHPL working interest; 21 Onshore Exploration Licenses with 5% carried interest and 35 Development & Production Leases with 12.5% to 25% working interest.
GHPL average production share was 43,742 BOE/Day in 2009.
GHPL acts as a Licensee in the off-shore joint ventures. It has an interest in 17 offshore exploration licenses under Production Sharing Agreements (PSAs). It ensures implementation of agreed work programmes and approval/recording of budgets/expenditures by these joint ventures.
GHPL is non-operating partner with local and foreign oil and gas exploration and production companies functioning as operator. Major operating companies in partnership with GHPL are BP, BHP Billiton, Eni, OMV, Petronas Carigali, Paige, Nikoresources, Hycarbex, MOL, OPII, OGDCL, PPL, POL and PEL.
Secretary MP&NR is the Chairman of the company’s Board of Directors
For more detail information please visit GHPL website www.ghpl.com.pk.