ISLAMABAD, Dec 30: Oil and Gas Regulatory Authority on Thursday granted three licences to Oil and Gas Development Company Limited (OGDCL) to sell natural gas from its Uch Gas field , Nandpur/Punjpir Gas fields and Bhal Syedan Gas field to M/s Uch Power Limited, M/s Fauji Kabirwala Power company Limited and M/s Altern Energy Limited respectively for power generation under the Ogra ordinance.

A press release issued here said that although OGDCL had already obtained appropriate licences from the then relevant authority before start of sale of gas from these fields, it believes in complete legal compliance and good corporate governance therefore it has applied for the licences under Ogra Ordinance 2002 as well.

OGDCL applied in early 2003 and Ogra after fulfilment of various formalities, completion of due process and conduct of public hearing, decided to grant the licences to OGDCL as applied.

The licences have been granted with effect from March 28, 2002 (that is the date of promulgation of Ogra Ordinance), and have been granted for a period of 30 years (Bhal Syedan 15 years) or till the expiry of development and production leases whichever is earlier.

In a ceremony held at Ogra Office, Islamabad the Chairman Ogra, Mr Munir Ahmed announced the Authority's decision and handed over the licences to the Managing Director OGDCL, Mr Najam K.Hyder.