Pakistan awards Eni PSAs in Indus Delta

Pakistan executed production-sharing agreements Feb. 25 with Eni Pakistan Ltd. for two offshore blocks in the Indus Delta: Block No. 2366-4 (Offshore Indus-M) and Block No. 2366-5 (Offshore Indus-N)—each covering 2,500 sq km.

Feb. 25, 2005

By an OGJ correspondent
KARACHI, Feb 25 -- Pakistan executed production-sharing agreements Feb. 25 with Eni Pakistan Ltd. for two offshore blocks in the Indus Delta: Block No. 2366-4 (Offshore Indus-M) and Block No. 2366-5 (Offshore Indus-N)—each covering 2,500 sq km.

The Ministry of Petroleum and Natural Resources revealed that Eni will operate the blocks with a 100% working interest and will invest a minimum of $5 million during the first 2 years to identify drillable prospects, and an additional $11 million investment in succeeding phases during the following 3 years.

Eni Pakistan Managing Director Philip Hemmens said the company would start surveys by yearend and might drill next year.

Government Holdings (Private) Ltd. is licensor.