Pakistan Allots Eight Oil, Gas Blocks to Three Local Companies

Pakistan’s ministry of petroleum and natural resources Friday signed agreement with three local companies for exploration of eight oil and gas blocks.

The three companies are Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL) and Mari Petroleum Company Limited (MPCL).

The minimum investment potential is $49.58 million for these blocks spread over 16,117.09 sq km, media reports said.

The companies are also obligated to spend a minimum of $30,000 per year in each block on social welfare schemes.

OGDCL has got four blocks, PPL has got three blocks and the remaining to MPCL.

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