12 petroleum concession agreements signed

12 petroleum  concession  agreements signed
afp

ISLAMABAD: The government on Monday signed Petroleum Concession Agreements (PCAs) and Exploration Licenses (ELs) with the Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) for exploring oil and gas resources in the country.
These agreements were signed over Block No. 2970-7 (Ladhana), Block No. 3071-4 (Fatehpur), Block No. 2768-11 (Ranipur), Block No. 2469-9 (Armala), Block No. 3371-17 (Baratai), Block No. 2564-4 (Rasmalan), Block No. 2564-3 and Parkini Block-B with OGDCL and Block No.2864-2 (Nausherwani), 2566-6 (Bela West), 3272-18 (Karsal), 3372-23 (Hisal) and 2870-5 (Sadiqabad) with the PPL.
The Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi who witnessed the ceremony appreciated the hard work of Directorate General of Petroleum Concessions for preparing and finalizing 12 exploration Licenses and 12 Petroleum Concessions Agreements within one week after provisional awards.
He further added that these efforts will bear fruit for the country in the form of additional hydrocarbon reserves during next few years. 
The minister said remaining 38 licenses would also signed this month, which would go a long way in exploring oil and gas resources in the country.
The Minister is of the firm opinion that execution of the ELs/PCAs will not only attract new investment in the petroleum sector but also abridge the gap between energy demand and supply.
He said the total area of aforesaid blocks is 22619.3 SqKm and minimum firm work commitment is $176 Million. Apart from minimum work commitment, companies are obligated to spend a minimum of $30,000/year in each block on social welfare schemes.    
Ladhana block located in Leiah, Muzaffargarh and Multan districts of Punjab, Fatehpur block is located in Leiah, Muzaffargarh, Khanewal and Multan districts of Punjab, Ranipur block is located in Khairpur, Larkana and Nausharo Firoz districts of Sindh province, Armala block is located in Thar Parker district of Sindh province, Baratai block is located in Kohat district of KPK province, Rasmalan block is located in Pasni, Awaran and Lasbela districts of Balochistan province, Parkini block-B is located in Awaran and Pasni districts of Balochistan province, Nausherwani block is located in Kharan districts of Balochistan, Bela West block is located in Khuzdar, Awaran and Lasbela districts of Balochistan, Karsal block is located in Chakwal district of Punjab Province, Hisal block is located in Attock, Chakwal and Rawalpindi districts of Punjab Province, Sadiqabad block is located in  Rahim Yar Khan district of Punjab Province. 
OGDCL is a Public Limited Company engaged in Exploration & Production activities in the country for the last four decades. OGDCL holds the largest share of Oil (58%) & Gas (42%) of the total reserves in the country. Its percentage share of total Oil & Gas production in Pakistan is 52% and 27%, respectively.
In addition, OGDCL is the Operator in thirty four (34) exploration licenses and working interest owner in 6 other exploration blocks operated by various E & P companies. OGDCL is currently producing 43,807 barrels of Oil, 1145 MMCF of gas, 85 M. Tonnes of LPG and 96 M. Tonnes of Sulphur per day.
PPL is Pakistan’s oldest and largest Exploration & Production company, which was incorporated during 1950. Presently, PPL is the operator of 16 different exploration blocks and working interest owner in 16 other exploration blocks operated by various E & P companies. PPL is operator of five producing fields namely Sui, Kandhkhot, Mazarani, Adhi and Chachar with the total daily production of 684 MMCF of gas, 7100 barrels oil and 157 metric tons of LPG.
The execution ceremony was graced besides Minister for Petroleum Natural Resources Shahid Khqan Abbasi and State Minister Jam Kamal Khan, State Minister for Petroleum & NR and Mr. Zahid Muzaffar, Advisor to Ministry of Petroleum & Natural Resources with their presence. The respective ELs and PCAs were signed by Mr. Abid Saeed, Secretary Petroleum and Natural Resources, Mr.Saeedullah Shah, Director General Petroleum Concessions, Mr. Riaz Khan, Managing Director, OGDCL, Mr. Asim Murtaza, Managing Director, PPL and Directors from concerned Provinces.
Later the minister while talking to media said three gas pipelines were blown
up in Rahim Yar Khan incurring loss of 700 mmcfd gas in the SNGPL system.

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