24 New Oil and Gas exploration blocks in Pakistan

24 New Oil and Gas exploration blocks in Pakistan

ISLAMABAD - Federal link Secretary for Petroleum Friday told the Senate link Standing Committee on Petroleum that 24 news link blocks for oil link & gas link exploration had been awaiting security clearance from link ministry of defense for last six months.

He was briefing the senate link committee headed by senator Mohsin Aziz, on petroleum policy of 2012.

Briefing the committee, the Director General (DG) Planning Commission said that the total oil link and gas link production in the country for the year 2018-19 was 89,030 BBL oil link per day and 3,935 MMCFD gas link.

The overall energy mix of the country comprises of Gas link 34%, LNG 9%, oil link 31%, LPG link 1%, Coal 13%, and other sources 8 %.

The total sedimentary area was told to be of 827, 268 square kilometers and the area under exploration is 224,976 square kilometers.

As of today, the total discoveries have been 394 with 85 of oil link and 309 of gas link with a success rate of 34%.

The Petroleum (exploration and production) policy 2012 which governed the complete process associated with this sector was approved by Council of Common Interests (CCI), the DG said.

The briefing also included the process of awarding blocks, the fiscal regime and licensing zones, producers' oil link and gas link pricing mechanism, royalties and income tax, incentives for unconventional hydrocarbons and other obligations including social welfare in the local population.

The Committee sought complete details of how much money link had so far been spent on corporate social responsibility and social welfare and details of development or infrastructural work done.

The Committee was told that except Khyber Pakhtunkhwa link, the other three provinces had not yet nominated a focal person who would work with the DG Planning Commission to ensure smooth implementation of Article 172(3) that talks about joint and equal vesting of oil link and gas link productions.

The Committee decided to write a letter to chief secretaries of the three provinces in this regard.

The committee discussed the resolution link passed by the House in 2016 link regarding supply of natural gas link to residents of Circles Lora, Baghan, Bakot, Upper Lower Galiyat on priority basis.

The mover, Senator Javed Abbasi, told the Committee that after detailed consultations and in-depth survey of the area the estimate drawn of area of one circle link was more than Rs 2 crores.

He suggested that the supply of gas link could be arranged in phases to ensure timely completion of the process. The Committee directed SNGPL link to work out the plan with the mover and report to the committee.