Islamabad - The Petroleum Division (Ministry of Energy) on Friday awarded Petroleum Concessions/ Exploration Licences of six new oil & gas blocks in Balochistan and Punjab.
These Exploration Licences and Petroleum Concession Agreements (PCAs) were signed on behalf of government of Pakistan by Secretary Petroleum Division Mian Asad Hayaud Din, , Director General Petroleum Concessions Abdul Jabbar Memon. Federal Minister for Energy Muhammad Hammad Azhar, Shahid Saleem Khan, Managing Director, OGDCL, Faheem Haider, Managing Director, MPCL and Moin Raza Khan, Manager Director, PPL attended the signing ceremony of Petroleum Concessions/ Exploration Licences at Petroleum Division today.
Director General Petroleum Concession, Petroleum Division granted 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.
Speaking on the occasion, federal minister for Energy Muhammad Hammad Azhar stated that these efforts will bear fruit for the country in the form of additional hydrocarbon reserves during next few years. The minister expressed the hope that execution of the exploration licences and PCAs will not only enhance investment in the petroleum sector but will also contribute in bridging the energy demand and supply gap.
DG(PC) highlighted that minimum firm work commitment for these blocks is $ 24.68 million for the period of three years. Companies are obligated to spend a minimum of $ 30,000/year in each block on social welfare schemes. Annual social welfare obligation in respect of these 06 blocks is $180,000. Killa Saifullah Block, covering an area of 2421.96 sq. kms in located in the district of Killa Saifullah while Sharan Block covering an area of 2497.89 sq. kms is located in the districts of Killa Saifullah and Zhob and Suleiman Block covering an area of 2172.89 sq. kms is located in Musakhel, Zhob, Killa Saif Ullah & Loralai Districts. Sujawal South covering an area of 1914.1 sq. km. is located in Sujawal District. Jhelum Block covering an area of 1524.65 sq. kms is located in the districts of Jhelum, Gujrat & Mandi Bahauddin while Lilla Block covering an area of 2361.12 sq. kms is located in Chakwal, Jhelum & Khushab Districts.