Pakistan has granted an Exploration License over Block No. 2468-7 (Kunri) to the joint venture of New Horizon Exploration & Production Limited (NHEPL) (60% working interest) and Kuwait Energy company (KEC) (40% working interest). Simultaneously, Petroleum Concession Agreement was also executed, according to an official statement. The execution ceremony was witnessed by Petroleum Minister Amanullah Jadoon, and his deputy minister Naseer Mengal. Kunri block's total area of 2485.93 Sq. Kms lies in the districts of Badin, Mirpurkhas, Umer Kot & Mithi of Sindh province (Zone III). The joint venture will undertake geological studies, 800 line kms 2D seismic data or 170 Sq. Kms 3D seismic and drilling of three exploratory wells during the initial term of three years of Phase-I. NHEPL is a new local entrant in the upstream petroleum sector of Pakistan. The KEC is a rapidly growing private sector Kuwaiti exploration and petroleum company that is active in Egypt, Oman, Yemen, Indonesia, Syria and Russia.
