ISLAMABAD, Oct 2: The government on Thursday granted a petroleum exploration licence to Pakistan Petroleum Limited over Block No 2966-1 (Nushki), covering an area of 1780.76 square kilometres in districts Chaghai, Mastang, Kalat and Karan, Balochistan.

According to a press release, the block falls in prospectivity Zone 1. PPL intends to make an investment of over $350,000 for G&G studies, gravity and magnetic survey of 750 L.km. Based on the results of first year firm work programme, the company will opt 2D seismic acquisition of 50 km with an investment of $756,250 in the 2nd year and GIB in third year, which will cost $3 million.

The company has been involved in petroleum exploration and production in Pakistan for over half a century and has discovered several gas and oil fields. It has extensive geological knowledge, data and experience in exploration and field development.

The company is the producer of gas from Sui and Kandkot Mining Leases and gas/condensate and LPG from Adhi ML. The company is a working interest owner and operator of Block 337-7 (Jhamat), Block 2462-1 (Pasni), Block 2462-4 (Offshore Makran Central), Block 3372-12 (Kot Sarang) exploration licences and Mazarani Mining lease.

It also holds non-operating working interests in Qadirpur, Miano, Sawn, Hasan, Sadiq and Khanpur D&PLs, Block 2768-3 (Block-22), Block 3370-3 (Tal), Block-2668-4 (Gambat). Additionally, the company holds Baryte and Iron Mining Leases near Khuzdar and Disband, respectively, in Balochistan. PPL has current production of around 811 million cubic feet per day of gas 4,193 barrels of oil per day and 63 tons LPG per day.

The Licence and Petroleum Concession agreement was signed by M. Abdullah Yusuf, secretary, Petroleum and Natural Resources, on behalf of the President of Pakistan, G.A. Sabri, director general, Petroleum Concessions and S. Munsif Raza, managing director, Pakistan Petroleum Limited.