Pakistan Allots 50 Oil, Gas Blocks for Exploration

Pakistan has awarded 50 oil and gas blocks to eight local and foreign firms, local Pakistani media reported Friday.

These blocks have a potential to attract $371 million.

Speaking at a press conference, Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said 21 oil and gas blocs are located in Balochistan, 15 in Punjab, eight in Khyber Pakhtunkhwa and six in Sindh, media reports said.

Companies who were allotted licences are Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Mari Petroleum Limited, OMV Pakistan, Ocean Pakistan Limited and Oil and Gas Investments Limited.

Canada based Tallahhasse and Al-Haj Enterprises were also awarded licences, the minister said.

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