LONDON, April 27: Pakistan on Wednesday signed six $42 million agreements with international companies to carry out exploration in the oil and gas sector in Sindh, NWFP and Balochistan. The agreements were signed at the end of a two-day conference on “new opportunities in Pakistan’s oil and gas sector” organized by the petroleum and natural resources ministry at a hotel here.

Petroleum Secretary Ahmed Waqar signed the agreements on behalf of the Pakistan government. Federal Minister and State Minister for Petroleum and Natural Resources Amanullah Khan Jadoon and Naseer Mengal, respectively, were also present on the occasion.

The companies that signed the agreements are Premier Oil Pakistan Offshore BV and BHP Billiton which would join hands to carry out the drilling in the Jhangara Block in Sindh; Irish firm Tullow Development Pakistan, which in cooperation with Tullow Pakistan Operation would carry out exploration work in Kohat and Bannu West Block. Nativus Resources and RDC International would do the exploration in Huramzai and Laogasht in Balochistan. RDC International will also carry our out exploration in Chaghai.

Initial period of these agreements is three years which is considered the first phase in such accords, while another two years as the second phase.

A source told APP that these companies would do the exploration work under terms and conditions of the petroleum exploration licence and concession agreement of Pakistan.

Earlier, addressing a joint press conference with Mr Jadoon and Mr Mengal on Tuesday, the petroleum secretary said that Pakistan was holding negotiations with Turkmenistan, Iran and Qatar to import gas to meet its needs and added that if India showed interest in importing gas from Iran via Pakistan, it would be welcomed.

Pakistan’s High Commissioner to Britain Dr Maleeha Lodhi was also present on the occasion. Answering a question, Mr Jadoon said that oil prices in Pakistan were fixed on the basis of their rates in the Gulf countries and the Arab world.

Referring to security concerns in Afghanistan on which financial viability of the gas project depends, the petroleum secretary said that the Asian Development Bank had agreed to conduct a study in this regard.

He said the route of the pipeline, pricing and transaction structure was discussed during Prime Minister Shaukat Aziz’s visit to Tehran in February. He said that the deputy prime minister of Qatar had also held talks with the Pakistani authorities on the gas project.

He said Beijing companies were involved in drilling in the mineral sector and added that ever since the Chinese company, MCC, had taken over the Saindak project, there had been a marked improvement there. Some Chinese firms were also involved in exploration of copper in Dudhar and Thar coal, he added.—APP