Pakistan To Auction 43 Oil, Gas Blocks In June - Official
March 24 2010 - 9:06AM
Dow Jones News
Pakistan plans to auction 43 more oil and gas exploration blocks
in June, an official at the Ministry Petroleum and Natural
Resources said Wednesday, as the South Asian country tries to
expand oil production to meet rising energy demand.
The auction will includes five offshore blocks, the official
said over the phone from Islamabad on condition he won't be named.
The remaining blocks are in the South Asian country's four
provinces, he added.
Pakistan had in December allocated 41 blocks to 11 companies.
Initial seismic work at those sites is expected to start within
months, he said.
The winning bidders in the last round include Pakistan Petroleum
Ltd. (PPL.KA), the country's largest gas producer, U.K.'s BP PLC
(BP) and Eni S.p.A (E) of Italy.
-By Haris Zamir, contributing to Dow Jones Newswires; +91 22
6145 6100; djn.in@dowjones.com