December 21, 2003	Sunday	Shawwal 26, 1424

ISLAMABAD, Dec 20: Pakistan on Saturday granted a petroleum exploration licence to Petroleum Exploration Limited (PEL) over Block No 2769-13 (Salam) in zone-III, covering an area of 200.22 square kilometres in districts Ghotki and Jacobabad of Sindh.

According to a press release issued here, simultaneously the petroleum concession agreement was also signed. PEL has made firm commitment to invest $0.425 million in this block for an exploration programme comprising data review of geological and geophysical data, 30 line km 2D seismic and acquisition of G&G studies during the initial two years.

Petroleum Exploration Limited is a 100-per cent local company established in 1994. It is operator of petroleum concession licences over blocks Nos 2768-3 9220, 2768-6 (Kandra) and 2769-9 (Mirpur Mathelo). PEL is also the operator of Hasan, Sadiq and Khanpur Development and Production Leases and Badar Gas Field

and is presently producing

17 mmcf of Gas on an average day basis.

The licences and the petroleum concession agreements were signed by M. Abdulah Yusuf, secretary, Petroleum and Natural Resources, on behalf of the president of Pakistan, G.A. Sabri, director general, Petroleum Concessions, and Zaheeruddin, chief executive of Petroleum Exploration Limited.