Petroleum ministry recovers Rs 4.7 bln from E&P companies


ISLAMABAD, June 15 (APP): Ministry of Petroleum and Natural
Resources has recovered outstanding payments amounting to Rs 4.7 billion
from different oil and gas Exploration and Production (E&P) companies on
account of production bonus, social welfare and marine research fee during
the last four years.
In a bid to restore confidence of locals in exploration activity
areas, the ministry recovered 1639.23 million production bonus, Rs 11,988.25 million social welfare funds and Rs 1,100.51 million marine research fee from the E&P companies, official sources Thursday told APP.
“An amount of Rs 4,727.99 million has been recovered and deposited
in accounts of concerned DCOs of oil and gas producing districts for carrying out welfare schemes for locals,” they said.
Facilities like health, education, water supply, improved drainage and
sewerage system are provided to locals in oil and gas producing Tehsils and
Districts across the country, the sources said.