British Petroleum and Production Inc wins bids for two new exploration blocks

[LahoreEstate]

LONDON (October 07 2009): British Petroleum and Production Inc has won bids for two new exploration blocks at Digri and Sanghar South in Sindh province. These blocks were awarded in a government licensing round held at the Directorate of General Petroleum concessions last month. Currently BP produces 15% of Pakistan s Oil and 60% of its gas. To secure access to these bocks BP Pakistan has undertaken a work commitment of approximately US $30 million over a period of 3 years.

The Digri and Sanghar South blocks are adjacent to BP Pakistan Mirpur Khas Khipro concession areas and add another 5000 km2 to the company's existing portfolio. The bidding of Exploration blocks has been materialised as the follow up of Pakistan Petroleum Exploration Conference held in London in July where 54 exploration blocks were offered and investors were apprised of the exploration potential existing in various areas of Pakistan.

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