ISLAMABAD:Petroleum Division awarded 20 oil and gas blocks through competitive bidding process, in accordance with Petroleum Exploration and Production Policy 2012 (Policy) which is approved by Council of Common Interest.
Referring to media reports pertaining to the formation of committee by the Provincial Assembly of Balochistan on recent bidding round of 20 oil and gas blocks, on a request of the lawmaker, the division vehemently repudiates the false assumptions narrated by the esteemed provincial lawmaker on process of awarding oil and gas blocks for exploration to SOEs, said a news release.
Sharing the information the division said, 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.
Furthermore, in pursuance of Petroleum Exploration and Production Policy, 2012, Committee consisting of Director (Production), Deputy Director (Concessions-III), Deputy Financial Advisor, Petroleum Division and the Provincial Director, Concerned Province. Secretaries for Energy/Power Departments of all 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 Provincial Director for Balochistan.
It is also worth mentioning that the Provincial Director for Balochistan was present at the ceremony and signed the PCAs (Petroleum Concessions Agreements)/ELs of his respective province as witness.
Petroleum Division is committed to revive the exploration and production activities to increase hydrocarbon reserves in interest of the country and the Provinces.