By an OGJ correspondent
KARACHI, Sept. 10 -- Pakistan has granted an oil exploration license to a joint venture for Manchar Block 2667.5 in the Dadu district, Sindh Province, Pakistan. The JV consists of ENI SPA—through its wholly owned subsidiary Lasmo Oil Pakistan Ltd.—55% (operator); Pakistan Oilfields Ltd., a subsidiary of Attock Oil Co. 22.5%; and local company Mari Gas Co. Ltd. 22.5%.
The block is about 200 km north of Karachi near Bhit gas field and covers an area of 2,435 sq km. It falls in Prospectivity Zone III and has the same sedimentary basin as that of adjacent Zamzama gas field.
Under the JV agreement the partners will invest at least $6.7 million with an additional contingent investment of $5.55 million based on the outcome of results in the first 2 years.
Lasmo also has working interests in Zamzama, Miano, and Sawan gas fields; Kadanwari gas field, which has been supplying gas to the national market since 1995; and Bhit field, which is expected to commence production shortly.
