Pakistan invites for oil exploration bids

Nov 21, 2003 01:00 AM

The Exploration Wing of the Ministry of Petroleum and Natural Resources has invited bids for granting petroleum exploration rights over a block in the Indus Delta area. A source in the ministry told that the director general petroleum concessions has sought bids for granting the licence for the block.
The ministry had floated an international tender recently to seek interest from parties for carrying out exploration activities in Indus Delta-A area. The technical identification of the area is Block No 2367-4 (offshore) in Zone 0.

The parties will submit their bids to the ministry by December 22, 2003 after which it would be seen whose offer is the best. The ministry will award the contract for the block after evaluating the bids and sign a petroleum exploration and concession agreement.
The party that wins the contract will carry out surveys including seismic 2-D and 3-D to assess the presence of hydrocarbon contents in the block. The party will also drill an exploratory well during the initial three-year term.

More than 18 foreign and local companies are involved in exploration activities in Pakistan including OMV of Austria, BHP of Australia, Lasmo Oil, Shell, NOVAS, British Gas, Hardy Exploration, Orient Petroleum Inc (OPI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Ltd (PPL), Pakistan Oilfields, Petronas Carigali of Malaysia, Polish Oil and Gas Company (POGC), Premier Exploration Pakistan, Tullow Pakistan, UMC Pakistan, Union Texas and others.
The government attracted more than $ 911 mm investment in oil and gas sector during the last 18 months mainly due to deregulation and attractive policies.

Source: The News International, Pakistan
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