ISLAMABAD: The Petroleum Division awarded 20 oil and gas blocks through competitive bidding process, in accordance with the Petroleum Exploration and Production Policy 2012 (Policy), which is approved by the Council of Common Interest. The Director General (Petroleum Concessions) DGPC also invited the exploration companies through a comprehensive advertisement published in leading national newspapers, international newspapers as well as on the division's website.
The division vehemently repudiates the false assumptions narrated by the provincial lawmaker from Balochistan on process of awarding oil and gas blocks for exploration to the SOEs.
A committee by the Provincial Assembly of Balochistan has also been formed on recent bidding round of 20 oil and gas blocks.
Furthermore, in pursuance of the Petroleum Exploration and Production Policy, 2012, the Committee consisting of Director (Production), Deputy Director (Concessions-III), Deputy Financial Advisor, Petroleum Division, and the Provincial Director, concerned province. The secretaries for Energy/Power Departments of all the provinces were informed regarding the notification, and requested to depute provincial directors for the same.
The bids received by the last date i.e. 15 January 2021 were opened publicly on the same day at 10:30 hours by the "Bid Opening Committee" including the provincial director for Balochistan.
The provincial director for Balochistan was present at the ceremony and signed the PCAs (Petroleum Concessions Agreements)/ ELs of his respective province as witness.
Copyright Business Recorder, 2021