Dragon Oil, TPAO, Ghazanfar Signs PSCs for 2 Blocks in Afghanistan
by Dragon Oil plc
|Thursday, October 10, 2013
Dubai-based Dragon Oil plc, an international oil and gas exploration, development and production company, reported Tuesday the formal signing by the Ministry of Mines and Petroleum of Afghanistan of the exploration and production sharing contracts (EPSC) for two blocks, Sanduqli and Mazar-i-Sharif, of the Afghan-Tajik Phase 1 Oil & Gas Tender.
The participating interest of Dragon Oil, Turkiye Petrolleri A.O. (TPAO) and the Ghazanfar Group in the two blocks is 40 percent, 40 percent and 20 percent respectively. Dragon Oil shall be the operator of the Sanduqli block while the Mazar-i-Sharif block would be operated by TPAO. The Sanduqli block borders Turkmenistan and Uzbekistan in the north and spans 997 square miles (2,583 square kilometers). The Mazar-i-Sharif block borders Uzbekistan in the north and has an area of 1,048 square miles (2,715 square kilometers).
Dr Abdul Jaleel Al Khalifa, CEO, said:
"I am delighted to announce the formal signing of the exploration and production sharing contracts for Sanduqli and Mazar-i-Sharif by all concerned parties. We are excited about this opportunity to work in Afghanistan and the prospects of these two blocks. We look forward to working with the host government and our partners in Afghanistan."
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