BP Awarded Three Exploration Blocks Offshore Pakistan
BP has been awarded three offshore blocks in Pakistan's offshore Indus Delta. At a signing ceremony at the Ministry of Petroleum, the company said BP will explore blocks U, V and W covering an area of 21,000 km2 for oil and gas reserves, with the right to operate any commercially viable discoveries.
"The offshore Indus Delta is a very exciting prospect for us, with a geology that our experience tells us has a strong potential for containing hydrocarbons resources," explained Tariq Khamisani, President, BP Pakistan.
BP said any natural gas finds will be used to meet growing demand in Pakistan, which enjoys a sizeable and growing domestic market and a comprehensive distribution infrastructure.
BP Pakistan is one of the largest foreign investors in Pakistan, currently producing 22 percent of the country's oil and 6 percent of its gas. The company operates the Badin and Mehran Concessions in a joint venture with Oil and Gas Development Company Limited, Occidental Petroleum (Pakistan) Inc., and Government Holdings Private Limited.
BP Pakistan (formerly known as Union Texas Pakistan) made its first oil and gas discovery at Khaskheli field, in the Badin concession area. To date BP Pakistan has discovered sixty-one oil and gas fields in Badin and Mehran concessions and has produced 355 mmboe.