Government Increased Balochistan Share of Sandak Project
Islamabad: According to our sources, Energy Minister Hammad Azhar announced an adjustment to Sandak Project’s profit share on February 15th. There will be a total government share of 50 to 53 percent.
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The new deal was reached after speaking with the relevant parties within the Balochistan government. The federal government has boosted Balochistan’s profit share. Balochistan’s profit share is enhanced.
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There will be a royalty of 6.5% of 5% of the profits. Additionally, the net earnings have improved from 5% to 6.5%. In addition, the annual rent will rise by 40%, indexing with the price.
In addition, Minister Azhar stated that Pakistan Petroleum Ltd. would assume responsibility for about 2,500 square kilometers of gas and oil exploration in the Baska site, Dera Ismail Khan, Dera Ghazi Khan, and Musa Khel (PPL).
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