Govt to auction 20 new oil and gas exploration blocks

Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar said that in order to achieve self-sustainability in the energy sector Pakistan is constantly working on the exploration of oil and gas in the country.

“Bids for the auction are expected to be held by mid-January to encourage exploration activities in the country,” he said this in an interview with the Bloomberg, a US-based news agency.

He said Pakistan had also decided that it would only import cleaner Euro-5 diesel from January after doing the same for gasoline earlier this year. “Besides imports, Pakistan also plans to add 150 MMCFD of domestic gas output this month, including 50 MMCFD from the Mari gas field.”

While commenting on the North South Gas Pipeline project he said that Pakistan would have a majority share of 51 percent to 74 percent, while Russia would own the remainder.

According to sources Sui Northern Gas Pipelines Limited and Sui Southern Gas Company, have already started acquiring land for the pipeline.