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OGDC awarded 5 oil, fuel exploration licences

by Pakistan Latest News Update

ISLAMABAD: The federal government on Monday awarded 5 licences to the state-run Oil & Gasoline Growth Firm (OGDC) for exploration in Punjab, Khyber Pakhtunkhwa and Sindh provinces, with an funding of round $13.32 million in three years.

The Petroleum Concession Agreements (PCAs) and Exploration Licences (ELs) embody Block No 3372-26 (Hazro), Block No 2972-7 (Vehari), Block No 2972-8 (Sutlej), Block No 2668-23 (Khewari East) and Block No 3471-1 (Nowshera).

These ELs and PCAs have been signed by Secretary Petroleum Division Dr Arshad Mahmood and Director Basic Petroleum Concessions Abdul Jabbar Memon on behalf of the federal government whereas the OGDC was represented by its managing director Shahid Saleem Khan.

Hazro Block protecting an space of 653.74 sq km is situated within the districts of Attock, Swabi and Haripur of Punjab and Khyber Pakhtunkhwa. Vehari Block protecting an space of two,487.28 sq km is situated within the districts of Bahawalpur, Vehari and Lodhran in Punjab. Sutlej Block protecting an space of two,312.56 sq km is situated in Bahawalpur, Bahawalnagar, Vehari and Khanewal districts.

Khewari East protecting an space of 1,451.53 sq km is situated in Khairpur district of Sindh whereas the Nowshera Block protecting an space of 1,711.06 sq km is situated in Charsadda, Mardan, Swabi and Nowshera districts in KP

Minimal agency work dedication for these blocks is $13.32m over a interval of three years. The corporate is obligated to spend a minimal of $30,000 per 12 months in every block on social welfare schemes. Annual social welfare obligation in respect of those 5 blocks is $150,000.

The OGDC is a public restricted firm engaged in exploration and manufacturing actions within the nation for the final 5 a long time. It holds the biggest share of oil at 41 per cent and fuel at 36laptop of the whole reserves within the nation.

The OGDC’s share of complete oil and fuel manufacturing within the nation is 47laptop and 29laptop, respectively. The corporate is the operator of 46 exploration licences and holds working curiosity in seven different exploration blocks operated by varied different E&P firms. The corporate is presently producing 36,058 barrel oil per day of crude oil, 1,023 million cubic ft per day of fuel, 778 tonnes of liquefied petroleum fuel and 51 tonnes of sulphur per day.

Revealed in Daybreak, August 17th, 2021

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