July 22, 2006	Saturday	Jumadi-ul-Sani 25, 1427

KARACHI, July 21: The government on Friday awarded three blocks in the country’s offshore Indus Delta to British Petroleum Pakistan.The signing ceremony for granting exploration licences was held at ministry of petroleum in Islamabad.

BP Pakistan (formerly known as Union Texas Pakistan) will explore blocks U, V and W, covering an area of 21,000 square km, for oil and gas reserves with the right to operate any commercially viable discoveries, says a press release of the BP.

BP Pakistan President Tariq Khamisani said offshore Indus Delta had a strong potential for containing hydrocarbon resources. “Any natural gas finds would be used to meet growing demand in the country, which enjoys a sizable and growing domestic market and a comprehensive distribution infrastructure”.

The company currently produces 22pc and 6pc of the country’s oil and gas respectively.