Pakistan to auction interests in nine fields in April

Jan. 24, 2002
Pakistan will proceed Apr. 15 with a long-delayed auction for its working interests in nine oil and gas fields, said the Privatization Commission. The commission previously expected to hold that auction last summer.

By an OGJ Online Correspondent

KARACHI, Jan. 24 -- Pakistan will proceed Apr. 15 with a long-delayed auction for its working interests in nine oil and gas fields, said the Privatization Commission.

The commission previously expected to have that auction last summer (OGJ Online, May 14, 2001). It is the first major oil and gas transaction after the sale of the liquefied petroleum gas businesses of Pakistan's public sector companies Sui Southern Gas Co. and Sui Northern Gas Pipeline Ltd.

The offered interests in the nine concessions -- in Adhi, Badin-I, Badin-II, Dhurnal, Mazarani, Minwal, Pariwal, Ratana, and Turkwal fields --produce an average 20,000 b/d net to the government.

The commission also will allow companies to submit expressions of interest by Feb. 28 for acquiring concessions in Punjab and Sindh provinces. The stakes under consideration are 11-40% in areas with average production of 1,730-18,320 b/d, plus undeveloped areas.

Companies that have already submitted an EOI need not apply again.