Islamabad
The Oil and Gas Development Company Limited (OGDCL) has secured 11 new Exploration and Production (E&P) blocks during a recent bidding-round held for award of 20 blocks by the Petroleum Division.
“Director General of Petroleum Concession (PC) has communicated provisional award of new exploration blocks to the OGDCL,” the company said in a news release. The OGDCL said it had maintained its position as the market leader in upstream petroleum sector by securing maximum acreage nationwide for drilling new wells. The energy giant would be working as an operator in ten blocks and as Joint Venture partner with Mari Petroleum and PPL in one block.
These blocks have been awarded after competitive bidding on the basis of work units committed by different E&P companies in the blocks bidding round-2020. “Further formalities for the award of these blocks will be completed in the near future,” the company said.—APP
