Offshore Pakistan Oil Exploration Deals

The Government of Pakistan has signed three new joint exploration and production-sharing agreements (EPSA) for offshore blocks in ultra-deep waters in the Arabian Sea. The contracts, which have been signed with state-run Government Holdings and domestic oil exploration firm Petroleum Exploration (Private) Ltd (PEL), cover an area of 4,170sq km. The Ministry of Petroleum and Natural Resources has said that an investment of US$3.19mn is envisaged during the first two years of the project, but no official estimates of the blocks' reserves have been released.

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