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Company Overview of Government Holdings (Private) Limited
Government Holdings (Private) Limited engages in managing and monitoring government of Pakistan's working interest in oil and gas exploration and production joint ventures, and equity participation in public companies. Its activities include partnerships in exploration licenses, petroleum discoveries, and drilling wells. The company was founded in 2000 and is based in Islamabad, Pakistan.
House No. 9
Street No. 29
Founded in 2000
Key Executives for Government Holdings (Private) Limited
Chief Executive Officer, Director and Managing Director
Technical Director and Director
Compensation as of Fiscal Year 2016.
Government Holdings (Private) Limited Key Developments
OGDCL Announces Discovery Of Gas At Well Mithri # 01
Nov 3 16
The Joint Venture of Khewari Block comprising Oil & Gas Development Company Limited (OGDCL) as Operator (95%) & Government Holdings Private Limited (5% carried) has discovered Gas from an Exploratory well Mithri # 01, which is located in District Khairpur, Sindh Province. The structure of Mithri # 01 was delineated, drilled and tested using OGDCL's in house expertise and in close collaboration with GHPL team. The well was drilled down to the depth of 4,250 M. The well has tested 6.44 MMSCFD of gas through 32/64" choke at well head flowing pressure 1600 Psi from Lower Goru (Massive Sand) formation. This discovery has opened up a new avenue and would add hydrocarbon reserve base to OGDCL, GHPL and of the Country.
Pakistan Scales Back Planned Privatization Transactions
Jul 10 16
The government has developed a plan to sequence the capital market and pre-privatization restructuring for ten companies, Oil and Gas Development Co., Ltd. (KASE:OGDC), Pakistan Petroleum Ltd. (KASE:PPL), Mari Petroleum Company Ltd (KASE:MARI), Government Holdings (Private) Limited, Habib Bank Limited (KASE:HBL), United Bank Ltd. (KASE:UBL), Allied Bank Limited (KASE:ABL), National Bank Limited (KASE:NBP), State Life Insurance Corporation of Pakistan Limited for block sales and primary or secondary public offerings. the government revisited its plans for privatising Faisalabad Electric Supply Company Limited and other DISCOs and decided to move ahead with an Initial Public Offering (IPO) for a minority share in FESCO by November, 2016 to be followed by Islamabad Electric Supply Company Limited and Lahore Electric Supply Company Limited. The government also committed to disinvesting Kot Addu Power Co. Ltd. (KASE:KAPCO), a large power generation company, and to solicit expressions of interest by July 15, 2016 (new structural benchmark in lieu of completing the bidding process for FESCO by June, 2016. SLIC bill was subsequently approved by the National Assembly in May, 2016. The government will conduct the Initial Public Offering of SLIC by end-March, 2017 and will offer the first option for the government's shares in Mari Petroleum Company Limited (MPCL) to the parties who have been MPCL's other shareholders since incorporation, aiming at finalising this process by end-August, 2016.
Pakistan Petroleum Limited Announces Oil Discovery at Dhok Sultan X-1 Exploratory Well in Pakistan
Jan 5 16
Pakistan Petroleum Limited, or PPL, along with its joint venture partner Government Holdings Private Limited, or GHPL, has announced the discovery of oil and gas from its first exploratory well Dhok Sultan X-1 in Pakistan. PPL holds 75% working interest while GHPL shares 25% interest in the block. Dhok Sultan X-1 was spud on December 25, 2014 and reached the final depth of 5,827 meters on November 7, 2015. Based on wireline logs, a hydrocarbon bearing zone was identified within the Lockhart formation, which flowed 468 bbl/day oil along with 0.617 MMscfd gas at 20/64 inches choke size during testing. This is the deepest oil discovery in Pakistan and has opened up a new play in the western Potwar area. An acid stimulation is planned to be carried out after completion of the well which is expected to increase the flow rates.
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