HomeNewsGovt to offer 35 offshore sites for #oil, #gas exploration auction...

Govt to offer 35 offshore sites for #oil, #gas exploration auction will be held next month

#Pakistan has decided to auction 35 offshore sites next month for drilling to find oil and gas reserves in a major move to step up hydrocarbon production and meet growing demand.

The decision came after public-sector companies including Oil and Gas Development Company (#OGDC), in a joint venture with Italy’s Eni and US energy giant ExxonMobil, made efforts to discover oil and gas deposits at an offshore site in the Arabian Sea near #Karachi. However, they could not find anything but were able to collect data that could be useful for upcoming offshore ventures.

In addition to the 35 offshore sites, the government is poised to auction 10 onshore sites for hydrocarbon exploration, starting December 2019, said Power and Petroleum Minister Omar Ayub Khan in a meeting with German Ambassador Bernhard Schlagheck

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