The Oil and Gas Development Company Limited (OGDCL) and the Pakistan Refinery Limited (PRL) have formed a strategic partnership in Pakistan’s energy industry. They have signed a Memorandum of Understanding (MoU) to establish a cooperative relationship and explore collaboration opportunities. OGDCL will invest in PRL as a strategic investor to enhance the refinery.
The companies will engage in negotiations, exchange data, and identify investment opportunities. The MoU is effective immediately for two years, with each party bearing its own costs. Future cooperation will require due diligence and board approvals.
