Pakistan Awards Oil and Gas Exploration License

Wednesday, June 06, 2007
On Tuesday, Pakistan granted an oil and gas exploration license to a joint venture of a local firm and Kuwait Energy Company for an offshore block in southern Sindh province, according to www.ndtvprofit.com. The Kunri block lies in the four districts of Sindh and covers area of 2,486 sq. km (960 sq mile).

The local firm, New Horizon Exploration and Production Limited, has 40 percent working interest in the venture. Kuwait Energy Company is an independent firm that is active in Egypt, Oman, Yemen, Indonesia, Syria and Russia. Pakistan’s liberal exploration policy has attracted interest from local as well as foreign firms in recent years, making oil and gas one of the largest investment areas. The government has set a target of drilling 100 exploration wells each year, compared with an average of 60 a year previously. However, most offshore wells drilled by Pakistani and foreign firms have turned out dry. Pakistan imports 85 percent of its energy needs, including over $6.5 billion worth of oil a year, and aims to increase domestic oil production from about 65,000 barrels per day.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

QinetiQ Signs Contract with ASV

QinetiQ, as part of a new Marine Surface Target Service, has signed a contract with Autonomous Surface Vehicles (ASV) for the supply and operational support of autonomous surface target vessels.

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Bollinger to Build 6 More FRCs for the USCG

Bollinger Shipyards, Inc., Lockport, Louisiana, announced the award of six additional USCG Sentinel Class Fast Response Cutters (FRCs). The U. S. Coast Guard

Offshore

New Crewboat Design for Offshore O&G Market

Upgraded crewboat design employs carbon-reinforced composite materials and is lighter, faster and more fuel-efficient than alternatives. Marine Oil Transportation

2,545 Candidates Vie for 11 Positions at Maersk Drilling

Maersk Drilling reported 2,545 applicants for the 11 MITAS engineer positions available within the company in 2014. The Maersk International Technology and Science Program,

GDI Awards N-KOM US$110-M Contracts

Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1969 sec (5 req/sec)