950830

Govt invites bids

for exploration

rights at Phulji

NASIR SIDDIQUI

KARACHI: The Ministry of Petroleum and Natural Resources has invited foreign and local companies for grant of petroleum exploration rights at Phulji in the province of Sindh.

Application forms for exploration rights may be submitted by September 28.

In order to speed up the exploration activities, the ministry has decided to grant the licence to the successful bidder by October 5.

Sources said that so far the ministry has received about 67 application from foreign and local oil and gas companies for exploration in different areas. Of them, the ministry has so far awarded licences to 37 companies.

Sources however said that, at present, 22 foreign and local companies are engaged in exploration in the country over 26,000 square kilometres. These include British Gas, Unocal, Lasmo, OMV, BHP, Union Texas and PPL besides Oil and Gas Development Corporation.

The ministry recently granted a concessions to Premier Exploration Pakistan Limited, a subsidiary of Premier Oil of United Kingdom, Canada Northwest Energy Limited and Oil and Gas Development Corporation (OGDC) over Block No. 2768-5, Ghauspur North, covering over 740 square kilometres in Sukkur and Ghotki districts.

An investment to the tune of $2.5 billion is expected to be made in this sector, sources added.