PSX-listed Fatima Fertilizer Company Limited (FATIMA) has announced its decision to acquire full ownership of Fatima Petroleum Company Limited to expand into the oil and gas sector.
According to a stock filing, Fatima Fertilizer’s Board of Directors has approved the acquisition of 100 percent shares of Fatima Petroleum at face value. The transaction is part of the company’s broader diversification strategy.
Fatima Petroleum, a public unlisted company, has entered into farm-out agreements with Orient Petroleum Inc. to acquire working interests in three petroleum assets across Pakistan. These include:
- A 25 percent working interest in the Marwat Block in Khyber Pakhtunkhwa
- A 24 percent working interest in the Harnai South Block in Balochistan
- A 10.5 percent working interest in the Ratana Development and Production Lease in Punjab
The transactions are subject to regulatory clearances, government approvals, and execution of deeds of assignment.
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