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The Premier Oil, London with its Shell partners will drill an exploratory well by next weather window in offshore Indus 'E' Block at an estimated investment of over 40 million dollars.
The Chief Executive of the Premier Oil, London, Simon Lockett said this while talking to Federal Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon here on Wednesday.
Simon accompanied by Neil Hawkins, Director (Operations) is currently on a visit to Pakistan and called on Jadoon to discuss investment opportunities in the oil and gas sector.
Secretary Petroleum, Ahmed Waqar, Additional Secretary, Shaukat Hayat Durrani, Director General (Petroleum Concessions), Naeem Malik and Principal Advisor of Premier Oil, Akbar Aziz were also present during the meeting.
Speaking on the occasion, Simon Lockett said their joint venture with Shell has completed extensive 3D seismic survey, the interpretation of which helped delineate a number of exciting prospects.
He informed the minister that the Premier Oil-Kufpec (Kuwait Foreign Petroleum Exploration Company) were independently holding working interest in blocks in Qadirpur, Kandarwari, Bhit, Zamzama, Zarghun South and Bhadra in Pakistan.
Simon further said that Premier Oil Pakistan Offshore BV has planned to drill an exploration well this month in Jhangara Block in Sindh for which they had been granted a licence in April this year.
Welcoming the Premier Oil delegation to Pakistan, Amanullah Jadoon appreciated the company's involvement in upstream petroleum sector for a long period of time. He hoped that it would make more investment in the onshore and offshore oil & gas exploration activities for promoting the bilateral interest.
Jadoon briefed the delegation about the oil & gas development activities in Pakistan including the privatisation of state owned units.
He said there is a lot of potential and opportunities for the investors in Pakistan's petroleum sector as the government was offering them an attractive package of incentives resulting in good investment flow in the country.

Copyright Business Recorder, 2005

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