KARACHI: The Ministry of Petroleum will offer new blocks in June to expedite exploration of oil and gas reserves as the country fights severe energy crisis, Secretary Petroleum, Kamran Lashari, said on Thursday.
The blocks will be offered to local and international exploration production companies, just months after 40 leases were auctioned under the new petroleum policy, he said here on sidelines of Shell Eco-Marathon’s launching ceremony.
“We will offer nine or 10 blocks in June including one offshore lease,” he said, adding the petroleum ministry was also working on a separate policy for exploiting tight gas reserves. He said it was wrong to say that work on Mashal liquefied natural gas import project has stalled as talks were underway for construction work to start soon. “But we have to realize that there are no quick solutions to the present energy crisis.”
Shell Pakistan, Chairman and Managing Director, Zaiviji Ismail, said his company was committed to meeting energy deficit by focusing on the upstream sector. However, he said distribution margins on sale of petroleum products are not satisfactory. “Pakistan is offering the lowest margins to oil marketing companies in the region.
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