[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Four licences for oil and gas exploration in the districts of Attock and Chakwal were authorised on Thursday by the Economic Coordination Committee (ECC) of the Cabinet.
Summaries given by the Ministry of Energy’s (Petroleum Division) for oil and gas exploration were approved at the committee meeting presided over by Finance Minister Ishaq Dar.
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The following summaries were reviewed by the ECC and approved:
- Extension in the renewal of the Bhal Syedan Development and Production Lease (D&PL), in favour of Oil and Gas Development Company Ltd. (OGDC), covering a 16.41 sq km area in District Attock, Punjab, from January 1, 2022, to April 10, 2024.
- The approval of the Field Development Plan (FDP), the Declaration of Commerciality (DOC), and the grant of a Development and Production Lease (D&PL) over the Fazil Discovery (Mubarik Block) to United Energy Pakistan (UEP) Beta GmbH for a five-year period beginning on June 8, 2022, are all necessary to meet the nation’s rising energy demands.
- Pakistan Oilfields Limited (POL) has been granted a five-year extension to the Pariwali Development and Production Lease (D&PL), which covers a 121.95 sq km region in the Punjabi district of Attock. The extension will take effect on July 1st, 2022.
- A five-year extension of the Minwal Development and Production Lease (D&PL), which covers an 18.85 sq km area in the Punjabi district of Chakwal, will take effect on April 1st, 2023.
The meeting was also attended by Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Finance and Revenue Senator Sherry Rehman, Minister of State for Climate Change Minister Khurram Dastgir, and Minister of State for Power Minister Syed Naveed Qamar.
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