OMV gains interests in Pakistani licenses
OMV AG has increased its acreage in southwest Pakistan by acquiring interest in another two licenses over which it will shoot 2D seismic and geophysical surveys.
LONDON, Aug. 11 -- OMV AG has increased its acreage in southwest Pakistan by acquiring interest in another two licenses over which it will shoot 2D seismic and geophysical surveys.
The company will join operator Pakistan Petroleum Ltd. and Eni SPA as an interest-holder in exploration licenses Kalat and Barkhan in which it has taken a 30% and 15% interest, respectively. Both are in Beluchistan province.
The areas are underexplored but considered as prospective drilling areas, OMV said, adding that the licenses would enable the firm to proceed with growth plans in Pakistan, where OMV says it currently is the biggest international gas producer.
Both blocks, Kalat (2,482 sq km) and Barkhan (2,105 sq km), comprise several structural leads and multiple target reservoirs. The joint venture planned to start in early August with 2D seismic on the Barkhan license. Detailed geophysical surveys are planned as a first step for Kalat block after completion of the seismic on Barkhan.
PPL and Eni both hold a 35% stake each in the Kalat license. In the Barkhan license, PPL holds a 35% share and MND Exploration & Production Ltd. holds 50%.
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