Pakistan grants exploration license for Kunri block

Pakistan granted an exploration license to a joint venture of Horizon E&P (60% working interest) and Kuwait Energy Co. (40%) for Kunri block in the districts of Badin, Mirpur Khas, Umer Kot, and Mithi of Sindh Province.

Jun 6th, 2007

By an OGJ correspondent
KARACHI, June 6 -- The government of Pakistan on June 5 granted an exploration license to a joint venture of Horizon E&P Ltd. (60% working interest) and Kuwait Energy Co. (40%) for Kunri block (2468-7) in the districts of Badin, Mirpur Khas, Umer Kot, and Mithi of Sindh Province (Zone IV).

The companies, which are expected to spend $16 million on geological and geophysical studies on Kunri block, will shoot 800 km of 2D seismic survey or 170 sq km of 3D seismic survey. They also plan to drill three exploratory wells during the initial term of 3 years.

The block has total area is 2,486 sq km. Horizon is a new local entrant in Pakistan's upstream petroleum sector, while KEC is a rapidly growing private sector Kuwaiti E&P company that is active in Egypt, Oman, Yemen, Indonesia, Syria, and Russia.

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