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the 2009 petroleum policy, but with announcement of the 2012 policy, the price incentive for tight gas exploration was withdrawn.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
Pakistan grants exploration licences of six oil, gas blocks
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Petroleum Division Issues Six New Concessions/Exploration Licenses of Oil and Gas Blocks
Federal Minister for Energy, Muhammad Hammad Azhar, graced the signing ceremony of Petroleum Concessions/Exploration Licenses of six oil and gas blocks at Petroleum Division today.
Director-General Petroleum Concession Petroleum Division granted Petroleum Concession Agreements (PCAs) and Exploration Licences (ELs) over Block No. 3068-6 (Killa Saifullah) and Block No.3067-7 (Sharan) with Oil & Gas Development Company Limited (OGDCL) and Mari Petroleum Company Limited (MPCL), Block No. 3069-9 (Suleiman) with OGDCL and Pakistan Petroleum Limited (PPL) and Block No. 2467-17 (Sujawal South), Block No.3273-5 (Jhelum) and Block No.3272-16 (Lilla) with OGDCL.
Exploration Licences and PCAs signed
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ISLAMABAD, Pakistan: The Federal Minister for Energy Muhammad Hammad Azhar graced the signing ceremony of Petroleum Concessions/ Exploration Licences of 6 oil & gas blocks at Petroleum Division in Islamabad on Friday.
These Exploration Licences and Petroleum Concession Agreement (PCAs) were signed by Mian Asad Hayaud Din, Secretary Petroleum Division, Mr. Abdul Jabbar Memon, Director General Petroleum Concessions on behalf of Government of Pakistan, Mr. Shahid Saleem Khan, Managing Director, OGDCL, Mr. Faheem Haider, Managing Director, MPCL and Mr. Moin Raza Khan, Manager Director, PPL.
Director General Petroleum Concession, Petroleum Division granted Petroleum Concession Agreements (PCAs) and Exploration Licences (ELs) over Block No. 3068-6 (Killa Saifullah) and Block No.3067-7 (Sharan) with Oil & Gas Development Company Limited (OGDCL) and Mari Petroleum Company Limited (MPCL), Block No. 3069-9 (Suleiman) with OGDCL and Pakistan Petroleum
KSE-100: Stocks stage recovery amid signs of political stability
April 21, 2021
Bears ceded ground to bulls at the Pakistan Stock Exchange (PSX) on Tuesday, as investors reacted to successful negotiation between the government and the protesting Tehreek e Labaik Pakistan, which sent signs of stability.
On the second trading session of the week, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,558.13 level after gaining 644.56 points. However, paring some early gains the index clocked at 45,399.78 level by the closing bell after posting a 486.21 points gain.
The sentiments were also lifted following the announcement of rollover of $2 billion from United Arab Emirates (UAE) and an 8% MoM increase in FDI in the month of March further fuelled the investors’ sentiments.
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