in

ECC Approves Four Licenses for Oil & Gas Exploration

The Economic Coordination Committee (ECC) of the Cabinet Thursday approved four licenses for oil & gas exploration in Attock and Chakwal districts.

The meeting of the committee chaired by Finance Minister Ishaq Dar approved summaries presented by the Ministry of Energy (Petroleum Division) for oil & gas exploration.

The ECC considered and approved the following summaries:

  1. Extension in the renewal of Bhal Syedan Development and Production Lease (D&PL) covering an area of 16.41 sq km located in District Attock, Punjab w.e.f. 1st January 2022 till 10th April 2024 in favor of Oil and Gas Development Company Ltd (OGDC).
  2. Declaration of commerciality (DOC), Approval of Field Development Plan (FDP), and Grant of Development and Production Lease (D&PL) over Fazil Discovery (Mubarik Block) for a period of five years w.e.f. 8th June 2022, in favor of United Energy Pakistan (UEP) Beta GmbH, in order to meet the ever-growing energy needs of the country.
  3. Grant of five years renewal to Pariwali Development and Production Lease (D&PL) field covering an area of 121.95 sq km located in district Attock, Punjab, to Pakistan Oilfields Limited (POL) w.e.f. 1st July 2022.
  4. Grant of five years renewal over Minwal Development and Production Lease (D&PL), covering an area of 18.85 sq km located in district Chakwal, Punjab, w.e.f. 1st April 2023.

Federal Minister for Power Khurram Dastgir, Federal Minister of Commerce Syed Naveed Qamar, Federal Minister for Climate Change Senator Sherry Rehman, and Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha also attended the meeting.

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

    Naseem Shah Sets New Bowling Record in 1st New Zealand ODI

    Iceland Cricket Take a Dig at Stuart Broad for Calling Last Ashes ‘Not Real’