Govt awards 15 new blocks to local firms
Aims to reduce country’s heavy reliance on import of energy
PHOTO: REUTERS
The government has provisionally awarded 15 new blocks to four local oil and gas exploration companies to find new hydrocarbon deposits nationwide and reduce Pakistan’s heavy reliance on import of energy.
The state-owned Oil and Gas Development Company Limited (OGDC) won 10 blocks out of the 15 awarded through competitive bidding by the government, Mari Petroleum Company Limited (MPCL) and OKTL E&P acquired two blocks each while Pakistan Oilfield Limited (POL) secured one block, an official of the Ministry of Energy (Petroleum Division) told The Express Tribune on Wednesday.