Orient, Zaver awarded Punjab Block 2970-3

Jan. 7, 2005
Pakistan has granted a petroleum exploration license to a joint venture of Orient Petroleum Inc. (OPI) 80% and Zaver Petroleum Corp. Ltd. 20% for Sakhi Sarwar Block 2970-3, which covers 2,125 sq km in Punjab Province.

By an OGJ correspondent

KARACHI, Jan. 7 -- Pakistan has granted a petroleum exploration license to a joint venture of Orient Petroleum Inc. (OPI) 80% and Zaver Petroleum Corp. Ltd. 20% for Sakhi Sarwar Block 2970-3, which covers 2,125 sq km in Punjab Province.

The venture must carry out a $14.57 million exploration program of geological and geophysical studies, 2D and 3D seismic acquisition, and the drilling of two exploration wells during Phase 1 of the initial 3-year term.

Both companies are members of the Hashoo Group, Islamabad.