PPL receives $6m in Iraqi block settlement
KARACHI: PPL Asia E&P B.V. (PPL Asia), a subsidiary of Pakistan Petroleum Ltd (PPL), has reached an amicable $6 million settlement with Midland Oil Company (MdOC), a state-owned Iraqi oil entity, for Block-8 in Baghdad.
This settlement marks the conclusion of their Exploration, Development and Production Service Contract (EDPSC) for Block-8 in Iraq, which expired in May 2022.
PPL, in a stock filing on Monday, said that a significant milestone in these efforts was the net settlement of $6m...
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