AIRLINK 67.75 Increased By ▲ 2.55 (3.91%)
BOP 5.49 Decreased By ▼ -0.08 (-1.44%)
CNERGY 4.49 Decreased By ▼ -0.07 (-1.54%)
DFML 25.71 Increased By ▲ 1.19 (4.85%)
DGKC 68.60 Decreased By ▼ -1.36 (-1.94%)
FCCL 19.99 Decreased By ▼ -0.31 (-1.53%)
FFBL 30.21 Increased By ▲ 1.10 (3.78%)
FFL 9.95 Increased By ▲ 0.12 (1.22%)
GGL 10.00 Decreased By ▼ -0.01 (-0.1%)
HBL 114.05 Decreased By ▼ -0.20 (-0.18%)
HUBC 130.20 Increased By ▲ 1.10 (0.85%)
HUMNL 6.72 Increased By ▲ 0.01 (0.15%)
KEL 4.37 Decreased By ▼ -0.07 (-1.58%)
KOSM 4.79 Decreased By ▼ -0.10 (-2.04%)
MLCF 36.37 Decreased By ▼ -0.63 (-1.7%)
OGDC 131.91 Decreased By ▼ -0.39 (-0.29%)
PAEL 22.45 Decreased By ▼ -0.09 (-0.4%)
PIAA 25.65 Decreased By ▼ -0.24 (-0.93%)
PIBTL 6.63 Increased By ▲ 0.03 (0.45%)
PPL 112.61 Decreased By ▼ -0.24 (-0.21%)
PRL 29.03 Decreased By ▼ -0.38 (-1.29%)
PTC 14.84 Decreased By ▼ -0.40 (-2.62%)
SEARL 57.65 Increased By ▲ 0.62 (1.09%)
SNGP 66.03 Decreased By ▼ -0.42 (-0.63%)
SSGC 10.95 Decreased By ▼ -0.03 (-0.27%)
TELE 8.69 Decreased By ▼ -0.11 (-1.25%)
TPLP 11.55 Decreased By ▼ -0.15 (-1.28%)
TRG 68.31 Decreased By ▼ -0.31 (-0.45%)
UNITY 23.50 Increased By ▲ 0.10 (0.43%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 7,340 Increased By 45.5 (0.62%)
BR30 23,903 Increased By 48.7 (0.2%)
KSE100 70,539 Increased By 249.2 (0.35%)
KSE30 23,232 Increased By 61.4 (0.27%)

ISLAMABAD: Director General (P) Petroleum Division on Monday opened bids for 14 Onshore Blocks for grant of petroleum exploration rights through open bidding at the Petroleum House.

Bids were received for nine Blocks and opened by the Bid Opening Committee in the presence of companies’ representatives.

The minimum investment to be carried out by the Exploration and Production (E&P) companies in these Blocks will be over $70.2 million in three years.

The country needs an energy czar

Apart from E&P activities, the successful companies will also spend over $810,000 in social welfare for the areas of their respective Blocks.

For blocks that have discoveries, investments of several hundred million dollars will be made by these companies to develop the production.

Copyright Business Recorder, 2022

Comments

Comments are closed.

ali Apr 19, 2022 02:54pm
shame on you, no new company participated in bidding, if such continues how you are going match countries energy needs, one new company participated in last bidding OKTA and up till now waiting for award letters, very embarrassing situation rather then facilitating DGPC is creating hinderance incompetent DGPC and all in ministry of petroleum corrupt DG in petroleum house
thumb_up Recommended (0)