ISLAMABAD: The government on Thursday awarded four oil and gas exploration licences to Pakistan Petroleum Limited (PPL).
The company is expected to invest $24.2 million for finding hydrocarbon reserves in the areas for which licences have been granted. The licences were for blocks 2468-12 (Kotri), 2568-21 (Kotri North), 2468-10 (Sirani) and 3170-6 (Dera Ismail Khan).
With the award of the blocks, petroleum concession agreements (PCAs) were also signed. Secretary Petroleum and Natural Resources Kamran Lashari, Director General Petroleum Concessions Mohammad Naeem Malik and PPL Managing Director Khalid Rehman signed the agreements.
Kotri block is located mainly in district Thatta while Kotri North block is in district Dadu. Sirani block is in district Badin. All these blocks are in Sindh. Dera Ismail Khan block is located in district Layyah, Punjab province and district Dera Ismail Khan, Khyber- Pakhtunkhwa province.
Speaking on the occasion, Federal Petroleum and Natural Resources Minister Naveed Qamar said that the government is providing liberal incentives to exploration and production companies to attract investment and accelerate the exploration of hydrocarbon in the country.