It is believed that applicants for the bid will come from the more than 18 local and foreign companies currently involved in oil and gas exploration in Pakistan. The winner of the bid is expected to carry out geological surveys - that includes 2-D and 3-D seismic readings - to assess for the presence of hydrocarbon content in the blocks. An exploratory well will also be dug during the initial three-year term.
The first applicant will have the right to match the best Work Program and related financial obligations of the best bid and the successful applicant will be awarded a Petroleum Exploration and Concession Agreement under the provisions of the Pakistan Petroleum (Exploration and Production) Rules, 2001, Petroleum Exploration and Production Policy 2001 and the Bid Documents.
