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 >>

Russia Economy in February 2015
  Russia >>  2/26/2015 - The government announced a plan to spend about one trillion rubles to recapitalize banks through the issue of government bonds. The plan also includes...
India Oil Trade in February 2015
India >>  2/21/2015 - In December, India’s crude imports increased by 237 tb/d or 6% from the previous month to average 3.9 mb/d, reflecting an annual gain of 227 tb/d or 6...

China Oil Demand in February 2015
China >>  2/19/2015 - In December 2014, Chinese oil demand continued its high pace of growth, increasing by 0.66 mb/d or more than 5% y-o-y. 2014 average growth for China s...
Japan Economy in February 2015
Japan >>  2/17/2015 - While the government, together with the Bank of Japan (BoJ), continues with its stimulus programme after December's snap elections, the latest output ...

Caspian Oil Supply in February 2015
Kazakhstan >>  2/17/2015 - Kazakhstan’s oil production is seen to remain unchanged at 1.62 mb/d in spite of an upward revision by 21 tb/d in 4Q14 on the back of strong output in...
China Economy in February 2015
China >>  2/13/2015 - China’s GDP growth in 2014 was 7.4%, the slowest rate in the past quarter century. Nevertheless, the growth slowdown may still have some way to go. Th...



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