Offshore Drilling: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account
Products and vendors Services and providers Jobs

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 >>

SOCAR TakesOver the Operatorship of AGSC & SCPC
Azerbaijan >>  5/1/2015 - Following the completion of transaction between Norwegian Oil and Gas company Statoil and Malaysian Oil and Gas company Petronas regarding the sale of...
India Oil Trade in April 2015
India >>  4/29/2015 - In February, India’s crude imports averaged 3.4 mb/d, which is 750 tb/d or 18% lower than the level seen last month, marking the lowest crude imports ...

Acquisition of Marine Current Turbines Limited from Siemens
Singapore >>  4/29/2015 - Atlantis, a global leader in the tidal power sector, is pleased to announce that it has reached agreement to acquire the entire issued share capital o...
China Economy in April 2015
China >>  4/27/2015 - The Chinese economy started 2015 on a weak note. According to monthly data for January to March, the Chinese economy slowed further in the 1Q15, mainl...

Japan Stock Movements in April 2015
Japan >>  4/27/2015 - In Japan, total commercial oil stocks fell by 9.2 mb in February for the fourth consecutive month to stand at 145.2 mb. With this fall, Japanese comme...
SOCAR Selected Innovene S HDPE Process Technology for Sumgait Project
Azerbaijan >>  4/23/2015 - INEOS Technologies has licensed its Innovene S Process for the manufacture of medium density and high density polyethylene to SOCAR Polymer for their ...



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 >> 

More News

Oil & Gas Projects in Pakistan >>

Oil & Gas Companies in Pakistan >>

Related Links

Countries Quick 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 B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed