ISLAMABAD: The Ministry of Petroleum and Natural Resources has awarded five oil and gas exploration licences to privately-held Dewan Petroleum Ltd, an official statement said on Friday.
The company secured licenses for the blocks 2869-14 (Kalchas South), 2872-1 (Noor South), 2871-3 (Rukanpur), 2771-2 (Khangarh) and 2871-2 (Yazman) for a financial commitment of $18.65 million, the statement added. The blocks are spread over 12343.35 square kilometers area, it added.
The agreements were signed with Dewan Petroleum by Secretary Petroleum and Natural Resources Kamran Lashari, Director General Petroleum Concessions, Mohammad Naeem Malik and Chairman Dewan Petroleum Limited Zia Ur Rehman Farooqui.
Minister for Petroleum and Natural Resources Syed Naveed Qamar was also present.
The government gives high priority to promote a culture of self-dependency and efforts remain underway to exploit the local resources to meet energy needs, the minister told reporter.
He said local companies would have to take the lead in carrying out exploration work in view of the security situation in certain areas. He said the government was also signing agreements with other countries to meet energy needs and the IP project finalised recently with Iran was part of such efforts. He said the majority of oil and gas production was from Sindh but major discoveries had also been made in Khyber Pakhtunkhwa.
No comments:
Post a Comment