Helmerich & Payne said it would make a $100 million cornerstone investment into ADNOC Drilling's IPO as it seeks to grow in the region. A week before announcing ADNOC Drilling's planned listing, ADNOC announced an exploration concession agreement in which it awarded the exploration rights for Abu Dhabi's Offshore Block 5 to a consortium of four Pakistani companies – Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited (MPCL), Oil and Gas Development Company Limited (OGDCL), and Government Holdings (Private) Limited (GHPL) – in Abu Dhabi's second competitive block bid round. The award marks the first time Pakistani companies invest in and explore for oil and gas in an Abu Dhabi concession, as well as the first time ADNOC has partnered with Pakistani energy companies, the Abu Dhabi company said.