OGDCL grants two exploration licences for Thatta, Bagh-o-Bahar

ISLAMABAD: The Government of Pakistan Tuesday granted two petroleum exploration licences over Block Nos. 2667-8 (Thatta) in Zone-II and 2870-2 (Bagh-o-Bahar) in Zone-III, covering an area 2438.85 sq kms respectively to Oil and Gas Development Company Limited (OGDCL).

Thatta block falls in district Thatta of Sindh province and Bagh-o-Bahar block in district Rahim Yar Khan and Bhawalpur of Punjab province.

A minimum firm investment of over US $ 4.18 million and a contingent investment of US $ 6.25 million will be made in the said two blocks.

During phase-I of initial term of these licences, G&S studies purchase and reprocess seismic data 2D 800 line Km will be carried out.

OGDCL shall acquire, process and interprets seismic data 2D of 405 line Km in Bagh-o-Bahar and 2D 300 line Km in Thatta block.

Contingent upon results of aforesaid seismic work programme OGDCL will decide to drill an exploration well upto 3000 meters or Basal sands of lower Guru formation in third year, in each of these blocks.

OGDCL is currently operator of 25 exploration licences and 39 leases besides interest in 32 non-operated leases.

They are producing 31350 barrels of oil, 856 million cubic feet of gas, 264 tons of LPG and 68 tons of sulphur per day.

The execution ceremony was held in presence of Amanullah Khan Jadoon, Federal Minister for Petroleum and Natural Resources and Muhammad Nasser Mengal, Minister for state for Petroleum and Natural Resources.

The licences and the petroleum concession agreement were signed by Ahmad Waqar, secretary Petroleum and Natural Resources on behalf of the president Islamic Republic of Pakistan, Mohammad Naeem Malik, Director General petroleum concessions and Mohammad Riazuddin, Managing Director, OGDCL.