Petroleum company to invests US$20.71 million in oil, gas exploration in Pakistan


Islamabad : The Pakistani Government on Tuesday granted three Petroleum Exploration Licences to Petroleum Exploration (Pvt) Limited (PEL) to explore for oil and gas in the Sanghar, Mirpur Khas and Kaloi regions covering a total area of 5,177.53 square kilometers.

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Sanghar East block lies in Sanghar and Khairpur districts, Mirpur Khas West block in Hyderabad and Dadu districts, whereas Kaloi falls in Badin and Mithi districts of Sindh. All these blocks are in Zone-Ill.

The PEL intends to make an investment of US $ 20.71 million in aforesaid blocks to carry out geological and geophysical studies, acquisition, processing and interpretation of 2 D seismic survey.

Besides this PEL will drill a total of nine exploratory wells i.e., four exploratory wells in Sanghar East, three in Mirpur Khas West and two in Kaloi block during Phase-I of the initial period of three years.

Petroleum Exploration (Pvt) Limited is a 100% Pakistani oil and gas exploration company.

It is operator of block 22 from where 15 million cubic feet of natural gas per day is being supplied to Sui Northern Gas Pipelines Limited and 15.35 MMCFD from Badar field.

The company is working as an operator in Mirpur Mathelo, Salam, Badin-IV South, Badin-IV North, Karsal, Jhangara, New Larkana, Offshore Indus J, Offshore Indus P and Offshore Indus O blocks.

Besides, the company has working interest in Zamurdan and Sukkur Blocks.

The PEL is also operator of Badar Mining Lease, Khanpur, Hassan, Sadiq and Kandra Development and Production Leases.

The execution ceremony was witnessed by Federal Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon.

The Licences and the Petroleum Concession Agreements were signed by Secretary Petroleum and Natural Resources, Farrakh Qayyum on behalf of the President Islamic Republic of Pakistan, Director General Petroleum Concessions, Muhammad Naeem Malik and Chairman and Chief Executive of PEL, Zaheeruddin.