OMV AG has signed an agreement to purchase the exploration and production interests in Pakistan of Petronas International Corp. Ltd.
The interests include the Mubarak, Mehar, and Daphro exploration licenses and Mehar and Mubarak development and production licenses. Terms of the agreement, which must be approved by the government, weren’t disclosed.
The only current production is from Rehmat gas field on the Mubarak block in Sindh Province, where output averaged 14 MMscfd of gas and 34 b/d of condensate in 2008-09 but is declining, according to Government Holdings Private Ltd. (GHPL), a partner.
A later discovery on the block, Saqib 1A, tested 25 MMcfd of gas in March 2008 and is being developed to produce through the Rehmat gas plant.
A gas discovery on the Mehar block in Sindh Province has been approved for development. GHPL estimates the field holds 564 bcf of gas and 82 million bbl of condensate in place.
