ISLAMABAD, June 15: The government on Thursday granted an exploration licence to Pakistan Oilfields Limited over block No.2567-7 (Kirthar South) in zone -III, covering an area of 2150.06 square kms in districts Dadu and Thatta of Sindh and Lasbela of Balochistan province.

According to a press release the company has made firm commitment to invest $21.285m in Kirthar south block for an exploration programme comprising 2D and 3D seismic acquisition and drilling of four exploratory wells during the initial three-year term.Pakistan Oilfields Limited is a public limited company listed on all the stock exchanges in Pakistan. It is presently operating nine D&P leases and two exploration licences. It has also working interests in four exploration licences and seven mining D&P leases as a non-operating joint venture partner. Company’s daily production is about 13,240 barrels of oil, 58.4 MMCF of gas, 156 tons of LPG, and 6.5 tons of sulphur.

The execution ceremony was witnessed by Amanullah Khan Jadoon, federal minister for Petroleum and Natural Resources and Muhammad Naseer Mengal, minister of state for Petroleum and Natural Resources. The licences and the petroleum concession agreements were signed by Ahmad Waqar, secretary Petroleum and Natural Resources on behalf of the President Islamic Republic of Pakistan, Muhammad Naseem Malik, director general Petroleum Concessions and Sajid Nawaz, chief executive of Pakistan Oilfield Limited.