Prime Minister Shahid Khaqan Abbasi Monday witnessed the signing ceremony of Deed of Assignment of 25% Participating Interest in Offshore Indus 6 (Block 2265-1).
The Deed of Assignment was executed among the Directorate General Petroleum Concession, Ministry of Energy-Petroleum Division, GHPL, Eni Pakistan Ltd (8.34%), Exxon Mobil Exploration and Production Pakistan BV, OGDCL (8.33%) and PPL (8.33%) to effectuate the transfer of Participating Interest.
The Offshore lndus G (Block 2265-1) is considered one of the most promising blocks in offshore Pakistan. An ultra-deep exploration well is planned to be spud in the first quarter of 2019 in the Block for which preparations were underway. Exploration success in offshore Pakistan will change the energy landscape of the country.
This assignment is of great significance as it is the continuation of an increased interest from Major Oil Companies in Pakistan Offshore Exploration with Eni, reconfirming its long lasting commitment to Pakistan and ExxonMobil returning to Pakistan after 33 years.
The Joint Venture is led by Eni Pakistan Ltd (Operator), a subsidiary of Eni SpA, a leading energy company.
The signing ceremony, held at Prime Minister’s Office, was also attended by Additional Secretary Petroleum Division, the Italian Ambassador, US Deputy Chief of Mission and senior executives of the companies.