Gulf Oil and Gas accountACCOUNT

PETRONAS AWARDED TWO OFFSHORE BLOCKS IN PAKISTAN

Source: www.gulfoilandgas.com 7/4/2003, Location: Asia

Share |
PETRONAS, together with TOTAL, OMV, Mari Gas Company Limited (MGCL) and Oil and Gas Development Company Limited (OGDCL), has been awarded an exploration and production contract for the offshore Indus Blocks G and H by the Government of Pakistan.

The Production Sharing Agreement (PSA) for the two blocks was signed on Thursday, 3 July, in Paris, France between the five companies as partners and the Government of Pakistan as well as Government Holdings of Pakistan.

Under the PSA, PETRONAS, through its subsidiary PETRONAS Carigali (Pakistan) Ltd, will hold a 30 per cent interest in the offshore blocks while TOTAL and OMV will own 40 per cent and 15 per cent stakes respectively. OGDCL and MGCL each hold 10 per cent and five per cent interests respectively. TOTAL has been appointed operator of the two blocks.

Blocks G and H, covering a combined area of about 15,000 square kilometres, are located in the deep offshore Indus Basin, some 300 kilometres from the city of Karachi. Water depths in the blocks range between 1,700 to 3,400 metres.

The award of the PSA marks another milestone in PETRONAS' entry into Pakistan: Blocks G and H will be the first offshore deep water blocks in Pakistan for the company. Currently PETRONAS operates two onshore blocks, Mubarak and Mehar, in the country.

Offshore Drilling News in Pakistan >>

Azerbaijan >>  1/18/2017 - Axens confirmed today the signature of an AlphaButol® technology licensing agreement with SOCAR for the production of high purity 1-Butene through eth...
Japan >>  1/12/2017 - With data up to October 2016, oil demand in Japan has been determined by falling requirements in the direct use of fuel and crude oil for electricity ...

Japan >>  1/9/2017 - Japan’s crude oil imports dropped in October by 182 tb/d, or 6%, to average 3.1 mb/d. Y-o-y, crude imports also declined in October by 67 tb/d, or 2%....
Iran >>  12/25/2016 - ICOFC managing director has announced that 20 projects for development of oil and gas fields or enhancement of oil recovery will be put out to tender....

Russia >>  12/8/2016 - Glencore notes the announcement released by the Russian government regarding the privatization of shares in Rosneft. ...

Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


Pakistan Oil & Gas 1 >> 

Oil & Gas Projects in Pakistan >>

More News

 

Oil & Gas Companies in Pakistan >>


Related Links

AZ BD BN CN GE HK ID IN IR JP KG KH KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.