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PAKISTAN GRANTS EXPLORATION LICENCES TO PAKISTAN OILFIELDS LTD.

AsiaPulse News

| July 01, 2003 | COPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

ISLAMABAD, July 1 Asia Pulse - The federal government on Saturday granted two licences to Pakistan Oilfields Limited (POL) to explore petroleum resources in Block No. 3272-11 (Chakwal) in Zone-I in Chakwal district of Punjab and Block No. 2567-3 (Hyderabad) in Zone-III in Hyderabad and Dadu districts of Sindh with 370.36 square kilometres and 2,221.33 square kilometres, respectively.

POL, a public limited company listed at the stock exchanges in Pakistan, according to an official statement, has made a firm commitment to invest $350,000 in Hyderabad block for an exploration programme comprising review of geological and geophysical data, acquisition, processing and interpretation of seismic data.

In addition, the company may carry out an optional re-entry or drilling of one exploration well during the initial three-year term. In Chakwal block, their minimum work obligation includes review of geological and ...

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