Thursday, December 30, 2004

OGDC, Mari Gas awarded oil exploration licences

KARACHI: The Government of Pakistan has granted four petroleum
exploration licences with two being granted to both Oil and Gas
Development Company Ltd (OGDCL) and Mari Gas Company Ltd (MGCL) and
the remaining two to OGDCL only.

This was stated in a press release issued by the Ministry of
Petroleum on Wednesday.

Two of these licences for Block Nos 2968-3 (Kohlu) and 2969-7
(Kalchas), both in Zone-II, covering an area of 2459.11 square kms
and 2068.32 square kms, respectively, have been awarded to Oil and
Gas Development Company and Mari Gas Company.

The remaining two viz, 3072-2 (Bagh) Zone-II and 2763-2 (Shahana)
Zone-I, covering an area of 1036.51 square kms and 2445.06 square
kms, respectively have been awarded to OGDCL only.

The Kohlu and Kalchas areas lie in Kohlu and Dera Bugti Agencies,
Districts Barkhan and DG Khan of Punjab/ Balochistan province,
whereas Bagh area falls in Districts Jhang and Toba Tek Singh of
Punjab province and Shahana in Districts Kharan and Panjgur,
Balochistan.

A minimum firm investment of over $29.32 million and a contingent
investment of $16.50 million would be made in the said four blocks.

During the initial term of these licences, OGDCL shall carry out G&G
studies, gravity survey, seismic acquisition, its data processing
and interpretation thereof.

OGDCL has also planned drilling of three exploration wells in second
licence year in Kohlu and Kalchas blocks.

The licences and the Petroleum Concession Agreements were signed by
Ahmed Waqar, Secretary Petroleum and Natural Resources on behalf of
President of Pakistan, G A Sabri, Director General Petroleum
Concessions, Najam K Hyder, Managing Director OGDCL and Lt Gen
(Retd) Muhammad Janjua, Managing Director MGCL.

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