PPL approves 25% final cash dividend
SKM
October 27, 2025
ISLAMABAD: Pakistan Petroleum Limited (PPL) reaffirmed its position as one of the country’s leading energy companies as it held its 74th Annual General Meeting (AGM) in Karachi, celebrating 75 years of operations and reporting a year of strong performance, strategic expansion, and sustained shareholder value.
At the meeting, shareholders approved the company’s financial statements for the fiscal year ended June 30, 2025, along with the auditor’s report. They also endorsed a final cash dividend of 25% on ordinary shares, bringing the total dividend for FY 2024–25 to an impressive 75%.
The AGM, which drew a large number of shareholders, was chaired by Mr. Shahab Rizvi, Chairman of PPL’s Board of Directors, who lauded the continued trust and support of shareholders and employees alike.
“As we mark our Platinum Jubilee, PPL stands tall as a symbol of resilience and progress,” said Mr. Rizvi. “Our shareholders’ confidence and our employees’ dedication have been the foundation of our success. I congratulate everyone associated with PPL for their steadfast commitment to excellence.”
Mr. Rizvi also introduced the company’s new Managing Director and Chief Executive Officer, Mr. Sikandar Memon, who succeeds the outgoing leadership at a time of renewed strategic transformation.
Operational Excellence and New Discoveries
In his address, MD & CEO Mr. Sikandar Memon highlighted the company’s performance and key operational milestones during the year, terming FY 2024–25 a “defining year” for the organization.
“As we celebrate 75 years of PPL, we are also embarking on a transformative journey with a renewed corporate identity,” Mr. Memon said. “We reaffirm our commitment to evolving into a dynamic energy and minerals company focused on sustainable growth and value creation for our shareholders.”
PPL achieved an impressive 2P Reserves Replacement Ratio of 129%, reflecting its continued success in exploration and reserves addition. The company recorded eight new discoveries — including two operated discoveries at Pateji X-1 in the Shahbandar Block, Sindh, and six partner-operated discoveries — while drilling 11 exploration and 4 development wells across its operated and joint venture assets.
Mr. Memon noted that production from Pateji X-1 commenced in record time of less than five months, demonstrating PPL’s operational agility. Additionally, Adhi South 8 & 9 and Jhim East X-1 were also successfully commissioned during the year. Despite challenges such as LNG-related supply restrictions and lower offtakes at Kandhkot, PPL’s average production remained strong at approximately 632 million standard cubic feet per day (MMscfde).
International Expansion and Mineral Diversification
Highlighting PPL’s growing international footprint, Mr. Memon announced that the company had made significant progress on its operated Offshore Block 5 in Abu Dhabi, where it signed both a Production Concession Agreement (PCA) and a Field Development Plan (FDP) with the Abu Dhabi National Oil Company (ADNOC) under Pakistan International Oil Limited (PIOL). The agreement secures a 40% working interest for PPL during the production phase.
On the minerals front, the company reported “considerable headway” in its Bolan Mining Enterprises (BLZ Project) following the signing of a facility agreement to advance development work. Additionally, the world-class Reko Diq copper and gold project, in which PPL is a key stakeholder, remains on track with production expected to commence between 2028 and 2029.
Sustainability and ESG Commitments
Reiterating PPL’s focus on responsible and sustainable business practices, Mr. Memon emphasized that the company is embedding sustainability into its operations under its newly strengthened Environmental, Social, and Governance (ESG) policy.
During FY 2024–25, PPL contributed Rs. 4.6 billion toward Corporate Social Responsibility (CSR) initiatives aimed at improving healthcare, education, and livelihood opportunities for underprivileged communities nationwide. The company also announced plans to publish its first ESG Report in the coming months, underscoring its commitment to transparency and accountability in sustainability reporting.
Future Outlook: Growth Through Technology and Partnerships
Looking ahead, PPL’s leadership outlined a strategy focused on aggressive reserves expansion, enhanced recovery, and technology-driven production optimization. The company plans to strengthen its Exploration & Production (E&P) portfolio through targeted drilling, development projects, and exploration in high-potential frontier areas, shallow offshore blocks, and unconventional resources.
PPL is also actively exploring strategic partnerships with international energy companies to bolster expertise, mitigate risk, and accelerate growth. The company’s mineral division is expected to play an increasingly important role in its future portfolio, with accelerated progress in the BLZ Project and other upcoming ventures.
“Our team remains committed and resilient as we continue to uphold PPL’s legacy of excellence and innovation,” Mr. Memon concluded. “We aim to drive sustainable value for our shareholders while contributing meaningfully to Pakistan’s energy security and economic prosperity.” Ends
