Pakistan and Total Finalize Exploration Contracts
Total's Pakistan subsidiary has finalized two production sharing contracts with the government of Pakistan. The agreements cover the deep Offshore Blocks G and H around 200 kilometers from the coast in water depths of between 1,700 and 3,400 meters of the Indus Delta and involves drilling at least one exploration well from October this year involving investment of over $30 million. This will be the first ever well drilled in ultra-deep waters of Pakistan, which, in the event of commercial discovery, would not only lead to further investment of $2-3 billion, but would also provide a boost to petroleum exploration in vast, highly under-explored offshore areas of Pakistan.
Total is the operator of both of these blocks with an interest of 40% in partnership with Petronas (30%), OMV (15%) and the Pakistani companies Marigas (5%) and OGDCL (10%).
The signature of these contracts confirms Total's ambition to continually develop new resources and the company's ability to explore and produce hydrocarbons in technically challenging environments.
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