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Pakistan reports 66 license applications

Pakistan’s Ministry of Petroleum and Natural Resources said it received 66 applications for exploration licenses to 50 blocks out of 58 blocks offered in a licensing round that ended Mar. 10.

It said spending commitments by applicants totaled more than $372 million.

Under a petroleum policy adopted last year, the government offered onshore blocks under concession agreements and offshore blocks under a production-sharing framework.

It hasn’t broken out bids by area or identified bidding companies.


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