Pakistan opens bids for 20 onshore petroleum exploration blocks The minimum investment

ISLAMABAD: Pakistan has opened bids for 20 onshore petroleum exploration blocks, the government said in statement on Friday.

“The minimum investment to be carried out by the exploration and production (E&P) companies in these blocks for prospecting will be over $71 million in three years,” a statement from the petroleum division said.

The move to grant licences for discovery comes after a gap of several years as the country is facing depleting gas reserves, a rising domestic shortage and increasing reliance on imported liquefied natural gas (LNG).

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