IPR TransOil Corporation – Pakistan Branch is a branch of IPR TRANSOIL CORPORATION (the Company) incorporated in the Common Wealth of Bahamas as an International Business Branch on 02 June 1993. The Company was awarded permission from the Board of Investment of Pakistan on 04 February 2000 for the establishment of a Branch Office in Pakistan at Islamabad for the purpose of exploration, production and sale of oil and gas under Petroleum Concession Agreement for Guddu Block.
IPRTOC is a Joint Venture Partner of Guddu Petroleum Concession – Block 2869-9. The other Joint Venture Partners are Government Holdings (Private) Limited, Oil and Gas Development Company Limited (OGDCL) and Spud Energy Pty Limited. OGDCL is Operator of the Block. Further, the Combined Commerciality has already been approved by DGPC for Reti, Maru & Maru-South gas fields in Guddu Block. Development & Production leases for Reti, Maru & Maru South has been granted by the Directorate General of Petroleum Concessions during June 2013 for initial term of 10, 16 and 13 years respectively. Gas Sale & Purchase Agreement has been signed in the month of March 2013 between Buyers & Sellers. Gas Supply from Maru-Reti Fields has commenced on 26th December, 2013 with an average of 12.9 MMSCF/D. IPRTOC holds 11.5% share in Guddu Block with an effective share of 9.08% in Production Phase.