Tag: Exploration

Prime Minister Yusuf Raza Gilani on Thursday said economic diplomacy was an integral part of his government’s foreign policy and stressed on further exploration...

KARACHI - The lingering circular debt issue, coupled with heightened security concerns, has forced local oil and gas exploration companies to curtail exploration and development (E & D) activities. Industry analysts observed that E & D activities depicted a significant decline of 40 percent in the nine months of FY11, as a meager 30 wells were spudded in contrast with 50 wells in the same period last year. They further underlined that bifurcation of the number reflects the gravity of

KARACHI - The exploration cost of Pakistan Oilfields (POL) contracted by 63 percent since the same time last year in the second quarter of FY11 as no established well was declared dry amidst passive drilling activity, while other incomes of the company rose by 35 percent annually during the period owing to healthy dividend income from associated undertakings including NRL and APL.
POL posted a Profit after Tax (PAT) of Rs 2.968 billion (EPS of Rs 12.55) for the second quarter of

KARACHI - MOL, an integrated oil and gas group in Hungary, in its 'Investor presentation March 2011', indicated an aggressive stance for their exploration and development programme in Pakistan. The company's stance would also yield positively on its domestic JV partners, particularly Pakistan Oilfields Limited (POL). The investor's presentation reiterate MOL's conviction in its hydrocarbon reserves in Pakistan, including Tal, Karak and Margala block in its key projects. The

ISLAMABAD - The Supreme Court on Tuesday directed the deputy attorney general to consult the defence authorities on the strategic aspects of ongoing exploration and mining activities in Chagai area of Balochistan and inform the court about his findings.
A three-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali and Justice Ghulam Rabbani was hearing a number of petitions against the lease of Reko Diq gold and copper reserves to Tethyan Copper

ISLAMABAD - The Hungarian oil and gas exploration and production giant, MOL, on Friday announced an immediate suspension of its operations from Maramzai well due to security issues, resulting in suspension of the production 40MMCFD of gas and 1,600 barrels of oil per day.
The company has withdrawn all its personnel from its Maramzai site in Tal block to avoid any further loss of life.
The block is spread over areas in Kohat, Karak, Hangu and Bannu districts and some areas of

ISLAMABAD - The Ministry of Petroleum and Natural Resources is working on several fronts to effectively explore the country's rich mineral deposits for prosperity and development of the country. Similarly among other projects, the Reko Diq project has tremendous potential to contribute in the uplift of Balochistan's economy in specific and the national economy in general, according to Tethyan Copper Company(TCC) Pakistan, an official said. The TCC, in partnership with the Government

ISLAMABAD: Federal Minister for Petroleum and Natural Resources Naveed Qamar told the Upper House on Wednesday that issuing new licences for oil and gas exploration in the country was a provincial subject now and the federal government had stopped giving licences for new blocks since the passage of 18th Amendment.
Replying to a question on the matter, the minister said the government would cancel the licenses of all those companies that did not start work despite obtaining the