Ministry tightens noose around non-performing exploration-licence holders

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ISLAMABAD, Jan 26 (APP): Ministry of Petroleum and Natural
Resources has tightened the noose around the oil and gas Exploration
and Production (E&P) compmpanies, holding non-performing licences by
expediting the process to revoke their permits.
“The ministry has so far revoked around 17 licences and all
such permits of the companies, failing to start exploration
activities as per their obligation will be canceled,” official
sources told APP.
They said the action was being taken against the inactive E&P
companies holding licences for last several years without any ground
work.
The sources also informed that the ministry’s drive against
inactive Exploration and Production (E&P) companies was continuing
as notices were being issued to more such licence-holders.
“The drive is part of the government’s efforts to achieve
self-suffeciency oil and gas sector, keeping in view the prevailing
energy situation in the country,” they said.
Answering a question, the sources 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.
Replying to another question, they said the ministry was in
the process to award 32 more blocks to oil and gas companies to step
up exploration activities in different parts of the country.
“Under the petroleum policy 2012, 46 new blocks have already
been awarded,” they remarked.