PEL enters the realm of offshore exploration
 Islamabad 29 September 2006: Petroleum Exploration Pvt. Limited (PEL) has entered the realm of offshore exploration. Three Offshore production sharing agreements and Licences have been executed between the Government of Pakistan, Petroleum Exploration (Pvt) Limited (PEL) and Government Holding Pvt. Limited (GHPL). The production sharing agreements pertain to Block No. 2266-4(Offshore Indus-J) covering an area of 2436.3 kms; Block No. 2266-7 (Offshore Indus-O) spread over an area of 833.78 kms; and Block No. 2365-3 (Offshore Indus-P) covering an area of 896.46 kms. All the three Blocks are located in the ultra deep waters within the Exclusive Economic Zone of Pakistan in the Arabian Sea. PEL has an ambitious seismic data acquisition programme in the Off Shore Blocks. In the likely event of identifying drillable prospects an expenditure of over US$ 45 million is envisaged.
 Mr. Ahmad Waqar, Secretary Ministry of Petroleum and Natural Resources signed the agreements on behalf of Islamic Republic of Pakistan while Mr. Zaheeruddin chairman and Chief Executive, Petroleum Exploration pvt. Limited inked the agreements on behalf of his Company. Mr. Khurshid Anwar, Managing Director, GHPL signed the agreements on behalf of his Company. Mr Muhammad Naeem Malik, Director General, Petroleum Concessions witnessed the agreements.
The Signing ceremony was graced by Mr. Amanullah Khan Jadoon, Minister of Petroleum and Natural Resources and Mr. Muhammad Naseer Mengal, Minister of State, Ministry of Petroleum and Natural Resources.
Gallery: PEL Offshore Exploration and Production Signing Ceremony
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| Mr. Zaheeruddin Chairman & CEO of PEL, meeting with Mr. Amanullah Khan Jadoon, Minister of Petroleum & Natural Resources |
The handshake of Commitment for the prosperity of Pakistan |
Mr. Zaheeruddin, Chairman & CEO of Petroleum Exploration (Pvt) Ltd. and Mr. Ahmad Waqqar, Secretary, Ministry of Petroleum, signing the Production Sharing Agreements. Mr. Amanullah Khan Jadoon , Minister of Petroleum & Natural Resources and Mr. Muhammad Naseer Khan Mengal Minister of State are also present to witness the ceremony. |
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