ISLAMABAD, Jan 5: The government on Thursday granted two petroleum exploration licences to Petroleum Exploration (Pvt) Limited (PEL) in Badin, Thatta and Hyderabad districts of Sindh.
The licences are granted over blocks No.2468-6 (Badin-IV North) and No.2468-5 (Badin-IV South) covering an area of 1246.03 and 1265.33 square kilometres, respectively.
Badin-IV North Block lies in Badin, Thatta and Hyderabad districts, while Badin-IV South lies in Badin and Thatta districts. Both the blocks are in Zone-III.
The execution ceremony was witnessed by Amanullah Khan Jadoon, Minister for Petroleum and Natural Resources, and Muhammad Naseer Mengal, Minister of State for Petroleum and Natural Resources.
The licences and petroleum concession agreements were signed by Ahmad Waqar, Secretary, Petroleum and Natural Resources on behalf of the president, Mohammad Naeem Malik, Director General, Petroleum Concessions, and Zaheeruddin, Chief Executive of PEL.
PEL intends to make an investment of $11.15 million in these blocks to carry out geological and geophysical studies, acquisition, processing and interpretation of 2D seismic survey.
Besides this, PEL will drill three exploratory wells in the Badin-IV North block and four exploratory wells in the Badin-IV South block during phase-I of the initial period of three years.
PEL is a 100 per cent oil and gas exploration Pakistani company. It is operator of block 22 from where 23 million cubic feet of natural gas per day is being supplied to Sui Northern Gas Pipelines Limited.
The company is working as an operator in Kandra, Mirpur Mathelo, Salam, Karsal and New Larkana blocks. Besides, it has working interest in Zamurdan and Jhangara blocks. PEL is also operator of Badar Mining Lease in Ghouspur block and Kandra Development and Production Lease.—APP
