Islamabad: The Government of Pakistan has issued licenses to the Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) for the exploration of oil and gas reserves in Sindh and Balochistan, reported a news source.
A ceremony to mark the agreement was held on Thursday in the presence of Federal Minister for Petroleum Omar Ayub Khan. Petroleum Division Secretary Mian Asad Hayuddin, OGDCL Managing Director Zahid Mir and PPL Managing Director Waqim Bokhari were also present at the occasion.
The government has issued licenses for three blocks in total: Sura Block in Sukkur and Khairpur, South Khuzdar Block in Khuzdar and Dadu, and Mosakhel Block in Mosakhel and Zhob. OGDCL will explore the Khuzdar Block while PPL will focus on the Sura Block. Together, they will work to find oil and gas traces in the Mosakhel Block.
OGDCL and PPL will reportedly invest PKR 61.13 billion during the next three years in their pursuit of oil and gas reserves.
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