ISLAMABAD: Federal government has issued 6 licenses for oil and gas exploration in the country.
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According to a official statement released by Petroleum Division to media here on Monday, the government on November 22, 2022 executed Petroleum Concession Agreements (PCAs) and Exploration Licences (ELs) over Block No. 2966-2 (Chah Bali) with Joint Venture of Oil & Gas Development Company Limited (OGDCL) (operator) (70%) and Pakistan Oilfields Limited (POL) (30%), Block No. 2967-5 (Mach) and Block No. 2867-6 (Dadhar) with Joint Venture of Mari Petroleum Company Limited (MPCL) (operator) (40%), Pakistan Petroleum Limited (PPL) (30%) and United Energy Pakistan Limited (UEPL) (30%), Block No. 2866-5 (Kalat West) and Block No. 2869-15 (Sui North) with Joint Venture of PPL (operator) (50%) and MPCL (50%) and Block No. 2969-11 (Meeranpur) to UEPL (operator) (50%) and MPCL (50%).
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The statement said that the efforts in these blocks would bear fruit in the country in the form of additional hydrocarbon reserves during next few years and will not only enhance investment in the petroleum sector but will also contribute in bridging the energy demand and supply gap.
It said that the ELs and PCAs were signed by Capt. (Retd.) Muhammad Mahmood, Additional Secretary (Incharge) Petroleum Division, Mr. Kashif Ali, Director General Petroleum Concessions, Mr. Muhammad Aslam Umrani, Provincial Director (Balochistan) and Mr. Tariq Rashid, Provincial Director (Punjab) on behalf of Government of Pakistan, Mr. Khalid Siraj Subhani, Managing Director (MD) OGDCL, Mr. Imran Abbasy, MD, PPL, Mr. Fahim Haider, MD/CEO, MPCL, Mr. Mausaf Ahmed, President, UEPL and Mr. Shuaib A. Malik, CEO, POL.
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According to the official statement, Blocks Chah Bali, Mach, Dadhar and Kalat West are located in the Province of Balochistan whereas Sui North Block and Meeranpur Block are located in Balochistan and Punjab Province. The total area of these Blocks is 9901.37 Sq.Km. The minimum investment to be carried out by the companies in these Blocks for prospecting will be USD 65 million for the period of three years. Companies are obligated to spend a minimum of US $ 30,000/year in each block on social welfare schemes.
It also said that the OGDCL is a Public Limited Company engaged in Exploration & Production activities in the country for the last five decades. OGDCL holds the largest share of Oil 33% & Gas 34% of the total reserves in the country. Its percentage share of total Oil & Gas production in Pakistan is 47 % and 29%, respectively.
The pioneer of the natural gas industry in the country, Pakistan Petroleum Limited (PPL) has been a frontline player in the energy sector since the mid-1950s. As a major supplier of natural gas, PPL today contributes over 19 percent of the country’s total natural gas supplies besides producing crude oil, NGL and LPG.
Mari Petroleum is one of the leading integrated E&P companies in Pakistan, with a net hydrocarbon production of 104,856 barrels of oil equivalent per day. With a 23% market share, we are the second-largest gas producer in Pakistan and have a strong reserve base of around 600 million BOE.
POL is an exploration and production company in the upstream segment of the petroleum industry. POL is producing cumulative daily production of 4,057 barrels of oil equivalent. POL is the operator in nine development & Production Leases, four ELs and working Interest owners in six other exploration blocks operated by various E&P companies.
United Energy Pakistan Limited (UEP) is a subsidiary of United Energy Group (UEG), an international energy Company. UEP is the largest foreign oil and gas E&P Company operating in Pakistan. UEP contributes 14 percent of Pakistan’s total gas production.
