Pakistan opens bids for 20 onshore blocks for grant of Petroleum Exploration Rights

General

Directorate General of Petroleum Concessions has publicly opened bids for 20 onshore blocks for grant of Petroleum Exploration Rights through open bidding today at Petroleum House, Islamabad.

According to a press release of Ministry of Energy, the minimum investment to be carried out by the Exploration and Production companies in these blocks for prospecting will be over 71 million dollars in three years.

The auction of new oil and gas blocks is part of the incumbent government strategy to revive exploration and production activities in the country which had been ignored by previous governments.

 

Source: Radio Pakistan

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