Pakistan To Offer Oil &as Blocks For Bidding, Senate Told

Umer Jamshaid Published October 04, 2022 | 07:22 PM

Minister of State for Petroleum Dr Musadik Masood Malik said on Tuesday that the country would soon offer the auction of several new oil and gas exploration blocks in an effort to increase petroleum production and reduce reliance on expensive imported fuels

ISLAMABAD, (UrduPoint / Pakistan Point News - 4th Oct, 2022 ) :Minister of State for Petroleum Dr Musadik Masood Malik said on Tuesday that the country would soon offer the auction of several new oil and gas exploration blocks in an effort to increase petroleum production and reduce reliance on expensive imported fuels.

Replying to the question of Senator Danesh Kumar, he said the profits of Oil and Gas Development Company Limited (OGDCL), PPL and Mari Gas would be increased after the increased production. He said net profit earned by Government Holdings (Private) Limited (GHPL) in financial year 2020-21 was Rs 33,457 million. Pakistan State Oil Company Limited's (PSOCL) net profit earned in financial year 2020-21 was Rs. 29,139 million.

The net profit earned by Pakistan LNG Limited (PLL) in financial year 2020-21 was Rs. 4,701 million. Net profit earned by Pakistan Petroleum Limited (PPL) in financial year 2020-21 was Rs. 52,431 million. Net profit by Saindak Metals Limited (SML) in financial year 2020-21 was Rs.

1,380 million. Inter State Gas Systems Limited's (ISGSL) net losses during financial year 2020-21 was Rs. 352 million. Net Profit by Pakistan Minerals Development Corporation (PMDC) in Financial Year 2020-21 was Rs. 590 million.

He said net profit earned by Oil & Gas Development Company Limited (OGDCL) in financial year 2020-21 was Rs. 91,534 million. Pak Arab Refiner Limited's (PARCO).

Net profit earned by PARCO in financial year 2020-21 is Rs. 8,326 million. Net profit of Mari Petroleum Company Limited (MPCL) earned in financial year 2020-21 was Rs. 31,440 million.

The net profit of Sui Northern Gas Pipelines Limited (SNGPL) earned in financial year 2020-21 was Rs. 10,986 million. The net profit of Sui Southern Gas Company Limited for the year 2020-21 is not yet finalized because the financial statement of SSGCL for the years 2020-21 are dependent on determination of final revenue requirement (FRR) by OGRA which has not been determined as yet by the OGRA.

szm-muk