Thursday, 1 October 2009

Pakistan’s Government Awards 41 Blocks for Oil, Gas Exploration

By Khalid Qayum and Khaleeq Ahmed

Oct. 1 (Bloomberg) -- Pakistan awarded licenses for 41 blocks to companies including BP Plc., Eni SpA and Pakistan Petroleum Ltd. to search for oil and gas in the south Asian country, in a bid to attract investment in the energy sector.

“The successful bidders will be issued licenses within 15 days,” G.A. Sabri, special secretary at the Islamabad-based Petroleum Ministry said today in a phone interview. The companies bid yesterday for 41 blocks out of 53 offered by the government, he said.

Pakistan Petroleum, the nation’s biggest gas producer, won 13 licenses, the most, while Oil & Gas Development Co., Pakistan’s largest explorer, will get six blocks, he said. Pakistan Oilfield Ltd., the third biggest exploration company, will get two licenses while BP and ENI will be issued two and one licenses, respectively, he said.

Read the full story here.

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