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Thursday, December 12, 2024

Home Business Bidding round of 14 new E&P blocks announced

Bidding round of 14 new E&P blocks announced

by News desk
January 1, 2022
in Business

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Minister for Energy Hammad Azhar Friday said the Petroleum Division had announced a bidding round of 14 new oil and gas Exploration and Production (E&P) blocks located in different parts of the country.

The blocks, spanning over 24,000 square kilometre area, have the resource potential of tapping around 15 Trillion Cubic Feet (TCF) gas and 180 Million Barrel (MBL) oil, the minister said in a tweet.

Besides, Hammad Azhar said, the new blocks would bring around $100 million investment and carry out $1.2 million social welfare schemes in surrounding localities.—APP