October 24, 2003	Friday	Sha’aban 27, 1424

ISLAMABAD, Oct 23: Pakistan on Thursday granted a petroleum exploration licence to a joint venture led by OMV of Austria over Latif Block in Khairpur district of Sindh.

The joint venture partners include Pakistan Petroleum Limited (PPL) and ENI-Pakistan. Latif Block covers an area of 1497.80 square kilometre.

The joint venture would carry out reprocessing of 1,000 line kilometre of 2D seismic data, 300 square kilometre of 3D seismic and drilling of one exploration well during the phase-1 of the initial term of three years with a minimum expenditure obligation of over $5.15 million.

OMV Pakistan is a 100-per cent subsidiary of OMV of Austria and has been active in Pakistan since 1990. It discovered the Sawan gas filed in 1998, which started commercial production on Wednesday. The field having more than 45 billion cubic meters of commercial reserves would supply 340 mmcfd (million cubic feet per day) to both SSGC and SNGPL. OMV has 19.74 per cent stake in Sawan field.

OMV also has 17.68 per cent stake in the Miano gas field discovered in 1993 and went into production in December 2001 from where it is currently supplying 140 mmcfd of gas to SSGC.

Pakistan Petroleum Limited is the producer of gas from Sui, Mazarani and Kandkot mining leases and gas and LPG from Adhi field. The company is a working interest owner and operator of six blocks.

ENI Pakistan is currently participating as a joint venture partner in the EWT phase of the Zamzama field and the Zamzama development project as well as in the South West Miano-II exploration licence.