12 more notices issued to 6 E&P companies over inactive licences

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ISLAMABAD, July 23 (APP): Ministry of Petroleum and Natural
Resources has issued 12 more notices to six oil and gas companies,
failed to start exploration and production (E&P) activities as per
their commitment.
“We have revoked 17 such licences so far, and served 12 more
show cause notices to six defaulting companies for their non-performance,” official sources in the Ministry told APP.
They warned that permits of all oil and gas companies, failing
to start exploration activities as per their obligation, would be
canceled.
The official also informed that the ministry’s drive against
non-performing oil and gas exploration companies would continue as
the government wanted to step up drilling activities in potential
areas across the country.
He said the action was being taken against the inactive E&P
companies holding licences for last several years without any ground
work.
“More inactive licences will be revoked shortly after completing all formalities,” hey added.
Answering a question, the official said licences were not
canceled instantly, rather such companies were given notices and
provided an opportunity to present their cases, adding that all the
process was completed in a transparent manner before revoking
licences.