Islamabad - The federal government has finalised the bidding process for the award of 10 oil and gas exploration blocks in all the provinces after a gap of five years.

Soon after coming into power the PTI government the petroleum division has started bidding process for 10 out of 46 oil and gas exploration blocks and completed the bidding process on November 26, official source said.

According the BID results available with The Nation, SPEC has won the highest number of oil and gas exploration blocks with five out of 10 blocks, however the higher numbers of work unit won by Mari Petroleum Company Limited. One Work Unit is equal to $10000.  As per the details the qualified bidder for Wali West block was MPCL as it has offered 3901 Work Unit for the block. The runner up was the joint venture of OGDCL and PPL who offered 700 Working Unit and SPEC 270 Working Unit.

The successful bidder of Cholistan block was SPEC who offered 270 WU, following by OGDCL who offered 105 WU. For Block Sorh the successful bidder was PPL who offered 250 WU, followed by SPEC with an offer of 120 WU. For block Shakargunj West the successful bidder was SPEC who offered the highest bidding of 120 WU, followed by OGDCL with 107 WU and PPL 101 WU.

For Block-5 Punjab SPEC was successful bidder with the offer of 120 WU, followed by PPL with 101 WU.For block-28 North SPEC was successful bidder who offered 120 WU followed by no one.For block Musakhel the Joint venture of OGDCL and PPL was the successful bidders with the offer of 601 WU followed by OGIL 110 WU and SPEC120 WU. For Taung Block the joint venture of MPCL and POL was the successful bidders with the offer of 617 WU followed by PPL 150 WU,  Al-Hajj 149WU,OGIL 145 WU and SPEC 120 WU. For Khuzadar South block the successful bidder was OGDCL with 510 WU, followed by SPEC with 120 WU. For Desert block the successful bidder was SPEC with 120 WU followed by no one.The government will announce the succful bidders after the completion of all the formalities.  

It is pertinent to mention here that the last bidding process was held in March 2013 by the Pakistan People’s Party (PPP) government. Although the PML(N) government has awarded 46 new exploration licenses and 51 leases during its tenure but the bidding round for these blocks was held during PPP regime.