January 26, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Wednesday granted an extension in Adam X-1 development and production lease for a period of five years from February 10, 2022, a press release issued by Finance Division showed.
A summary was submitted by the Ministry of Energy (Petroleum Division) for the grant of extension in Adam X-1 Development and Production Lease (Hala Block).
The committee allowed an extension in order to increase domestic oil and gas production and reduce the burden of imported energy.
Previously, the Adam X-1 development and production lease was approved for a period of seven years with effect from 10-02-2015, covering an area of 19.42 square km and located in the district Sanghar. The field still has potential for further commercial production.
The ECC considered another summary of the Petroleum Division and allowed one-year Extended Well Testing (EWT) over Umair SE-1 Discovery Guddu (EL) with effect from the start of production under EWT arrangements.
The committee was informed that an exploration license (EL) was granted over Guddu Block in 1999, operated by M/s Oil & Gas Development Company Limited (OGDCL).
Based on the results of seismic data, OGDCL has made a new discovery in the Guddu EL from the Habib Rahi Limestone and Pirkoh Limestone by drilling a well namely Umair S.E-1.
The meeting was chaired by the Federal Minister for Finance and Revenue Senator Ishaq Dar.
