The Directorate General of Petroleum Concessions (DGPC) of the Ministry of Energy (Petroleum) today publicly opened bids for 14 Onshore Blocks for grant of Petroleum Exploration Rights through open bidding on April 18, 2022, at Petroleum House, Islamabad.
Bids were received for 9 Blocks and opened by the Bid Opening Committee in the presence of companies’ representatives. The minimum investment to be carried out by the Exploration and Production (E&P) companies in these Blocks will be over USD 70.2 million in three years.
Apart from E&P activities, the successful companies will also spend over USD 810,000 on social welfare for the areas of their respective Blocks. For blocks that have discoveries, investments of several hundred million dollars will be made by these companies to develop the production.
Source: Pro Pakistan