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Daily Times
April 24, 2021
Petroleum Division on Friday awarded six more oil and gas blocks to three leading companies aimed at achieving self-sufficiency in the energy sector by increasing Exploration and Production (E&P) activities in potential areas of the country.
Minister for Energy Muhammad Hammad Azhar witnessed the signing ceremony of Petroleum Concessions/Exploration Licences of 6 oil & gas blocks that held here at the Petroleum Division, a news release said. The Exploration Licences (ELs) and Petroleum Concession Agreements (PCAs) were signed by Secretary Petroleum Mian Asad Hayaud Din and Director General Petroleum Concessions Abdul Jabbar Memon on behalf of the government. While, Managing Director (MD) Oil and Gas Development Company Limited (OGDCL) Shahid Saleem Khan, MD Mari Petroleum Company Limited (MPCL) Faheem Haider and MD Pakistan Petroleum Limited (PPL) signed the agreements representing their companies.
The government on Friday awarded six petroleum exploration blocks in Sindh, Balochistan and Punjab to state-run oil and gas exploration and development companies. Reuters/File
ISLAMABAD: The government on Friday awarded six petroleum exploration blocks in Sindh, Balochistan and Punjab to state-run oil and gas exploration and development companies.
The exploration licences (ELs) and petroleum concession agreements (PCAs) were signed by Petroleum Secretary Mian Asad Hayaud Din and Director General of Petroleum Concessions Abdul Jabbar Memon on behalf of the government and Managing Director of Oil and Gas Development Company Limited (OGDCL) Shahid Saleem Khan, Managing Director of Mari Petroleum Company Limited (MPCL) Faheem Haider and Managing Director of Pakistan Petroleum Limited Moin Raza Khan at a ceremony witnessed by newly appointed Minister for Energy Mohammad Hammad Azhar.
Pakistan grants exploration licences of six oil, gas blocks
Business
April 24, 2021
ISLAMABAD: Pakistan on Friday granted petroleum concessions and exploration licences of six oil and gas blocks across the country to local companies as the government is struggling to reduce gap in energy demand and supply.
Director General Petroleum Concession of petroleum division granted petroleum concession agreements and exploration licences over Block No. 3068-6 (Killa Saifullah) and Block No. 3067-7 (Sharan) to Oil and Gas Development Company Limited (OGDCL) and Mari Petroleum Company Limited (MPCL), Block No. 3069-9 (Suleiman) to OGDCL and Pakistan Petroleum Limited (PPL) and Block No. 2467-17 (Sujawal South), Block No.3273-5 (Jhelum) and Block No.3272-16 (Lilla) to OGDCL.
Govt awards six exploration blocks
The move will attract minimum $24.68m of firm work commitment
Earlier, a 40% premium was offered on respective zonal prices in the 2009 petroleum policy, but with announcement of the 2012 policy, the price incentive for tight gas exploration was withdrawn. PHOTO: FILE
ISLAMABAD:
The government on Friday awarded six exploration blocks to oil and gas exploration and production companies to attract a minimum $24.68 million in firm work commitment.
The ceremony for the signing of petroleum concession/ exploration licence agreements for the six oil and gas blocks was attended by Federal Minister for Energy Hammad Azhar.
Petroleum Concession Director General Abdul Jabbar Memon granted petroleum concession and exploration licences for Block No 3068-6 (Killa Saifullah) and Block No 3067-7 (Sharan) to Oil and Gas Development Company Limited (OGDCL) and Mari Petroleum Company Limited (MPCL), Block No 3069-9 (Suleiman) to OGDCL and Pakistan Petroleum Lim