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PGNiG has acquired a 25% interest in the Musakhel licence block in central Pakistan. The company estimates the licence resources at 16 billion m
3 of natural gas.
‘We are consistently expanding the PGNiG Group s exploration and production operations abroad. The interest acquired in the Musakhel licence block may significantly increase PGNiG s production potential in Pakistan and strengthen our position on the local energy market,’ said Pawel Majewski, President of the PGNiG SA Management Board. ‘The transaction is a farm-in deal in which we acquired the interest under an agreement with the licence partners and with the consent of the Pakistani government.This confirms that PGNiG s competence in hydrocarbon exploration and production is highly appreciated and that we managed to forge good relations with the local partners while implementing other upstream projects in Pakistan.’
Pakistan: PGNiG secures a new licence in Pakistan energy-pedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energy-pedia.com Daily Mail and Mail on Sunday newspapers.
The representatives of the Mari Petroleum Company suggested to the government to prioritise the offshore blocks in the upcoming bidding round. Reuters
ISLAMABAD: The petroleum exploration and development companies on Thursday asked the government to improve the working environment for oil and gas exploration activities by addressing issues relating to security, revocation of their existing blocks and procurement rules.
At a round-table meeting with chief executives of the local and foreign exploration companies, a government team led by Minister for Energy Omar Ayub Khan, was also suggested to prioritise offering offshore blocks for auction in the next bidding round to attract more international exploration firms.
NAB distributes over Rs1 bn among state functionaries thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.