Government Rewards Six Petroleum Exploration Blocks
State-run oil and gas exploration and development corporations received six petroleum exploration blocks in Sindh, Balochistan, and Punjab from the government.
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The director general of Petroleum Concession, Petroleum Division, signed PCAs and ELs over Block No. 3068-6 (Killa Saifullah) and Block No. 3067-7 (Sharan) in Balochistan with OGDCL and MPCL; Block No. 3069-9 (Suleiman-Balochistan) with OGDCL and PPL; and Block No. 2467-17 (Sujawal South) in Sindh, Block No. 3273-5 (Jhelum) and Block No. 3272-16 (Lilla) with OGDCL.
According to the director general of the Petroleum Concession, the minimum firm work commitment for these blocks was $24.68 million over the course of three years.
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The businesses must invest at least $30,000 annually in social welfare programmes in each block. In relation to these six blocks, the annual social welfare obligation is $180,000.
The energy minister expressed the hope that over the following several years, permits will give the nation access to more hydrocarbon deposits.
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According to him, the implementation of ELs and PCAs will not only increase investment in the petroleum industry but also help close the country’s energy supply and demand gap.
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