Pakistan to Auction 18 Oil, Gas Blocks: Press
The Pakistani government is likely to issue tender for 18 oil and gas exploration blocks on January 8, local media reported on January 7.
Special assistant to prime minister on petroleum affairs Nadeem Babar said on January 6 that the government was working on giving incentives to E&P investors by halving the number of necessary approvals. “From field to production, the sector needed to take 28 different approvals we have brought them down to 14 now,” Babar was quoted as saying by The News.
Pakistan is looking to develop more gas resources to overcome problems with supply security. With local production lagging behind demand, the country has relied on more costly imported LNG.
Pakistan has two import terminals located at Port Qasim. The south Asian nation started importing LNG in 2015 with the commissioning of the Exquisite FSRU. Pakistan commissioned its second FSRU in late 2017.