The block in question is Block No 2763-I (E/L in Zone-I) near Ladgasht and the winning bidder will be issued a Petroleum Exploration and Concession Agreement that would allow them to conduct seismic 2-D and 3-D surveys and to drill an exploratory well during the initial three-year term.
Pakistan already has 18 domestic and international companies involved in the oil and gas sector and it is expected that many of them will be bidding for the block.
Amongst the companies expected to have a go are international giants OMV, BHP, Lasmo Oil, Shell, NOVAS, British Gas, Hardy Exploration, Orient Petroleum Inc, Pakistan Petroleum Ltd, Pakistan Oilfields and Petronas Carigali of Malaysia.
