Pakistan Link Headlines

Paige, RDC joint venture to invest US $ 4.5 million for exploration in Zhob Balochistan

ISLAMABAD: The Government of Pakistan Thursday granted a Petroleum Exploration Licence to the Joint Venture of Paige Limited and RDC International (Pvt) Limited over Block No.3168-1, covering an area of 1120.39 square kilometers in Zhob District of Balochistan province. Simultaneously Petroleum Concession Agreement was also executed between the parties.

The block falls in prospectivity Zone 1. Under the said Agreement the company will make a minimum investment of US $ 0.405 million in the first three years with an additional contingent investment of US $ 4.5 million based on the outcome of results of the first phase.

Paige Limited is an International Investment Company incorporated in the Commonwealth of Bahamas. In Pakistan Paige started its activities in the Energy Sector by grant of Petroleum Concessions over Murgha Faqirzai block in Balochistan in the year 1999.

Encouraged by the results of exploration in the Murgha Faqirzai Block, Paige Limited applied for the Multanai Block located along the northern boundary of the Murgha Faqirzai Block. RDC is a local joint venture partner of Paige Limited and is also working for oil and gas exploration in collaboration with Nativus Resources Limited & Paige Limited in Zhob, Qila Saifullah and Pishin Districts of Balochistan in Lugai and Murgha Faqir Zai Blocks.

The Licence and the Petroleum Concession Agreement were signed by Mr. M. Abdullah Yusuf, Secretary Petroleum and Natural Resources on behalf of the President Islamic Republic of Pakistan, Mr. G.A. Sabri, Director General, Petroleum Concessions, Mr. F.J. Hicks, Director Exploration Paige Limited and Mr. Javed Ahmad Chief Executive Officer RDC.

Talking to the newsman Mr. G.J. Hicks termed the oil and gas potential in Pakistan "very prospective and encouraging" and hoped that Paige Ltd. would be looking forward for further investment to boost its activities in days ahead.

Back to Top


	Paige, RDC joint venture to invest US $ 4.5 million for exploration in Zhob Balochistan ISLAMABAD: The Government of Pakistan Thursday granted a Petroleum Exploration Licence to the Joint Venture of Paige Limited and RDC International (Pvt) Limited over Block No.3168-1, covering an area of 1120.39 square kilometers in Zhob District of Balochistan province. Simultaneously Petroleum Concession Agreement was also executed between the parties. The block falls in prospectivity Zone 1. Under the said Agreement the company will make a minimum investment of US $ 0.405 million in the first three years with an additional contingent investment of US $ 4.5 million based on the outcome of results of the first phase. Paige Limited is an International Investment Company incorporated in the Commonwealth of Bahamas. In Pakistan Paige started its activities in the Energy Sector by grant of Petroleum Concessions over Murgha Faqirzai block in Balochistan in the year 1999. Encouraged by the results of exploration in the Murgha Faqirzai Block, Paige Limited applied for the Multanai Block located along the northern boundary of the Murgha Faqirzai Block. RDC is a local joint venture partner of Paige Limited and is also working for oil and gas exploration in collaboration with Nativus Resources Limited & Paige Limited in Zhob, Qila Saifullah and Pishin Districts of Balochistan in Lugai and Murgha Faqir Zai Blocks. The Licence and the Petroleum Concession Agreement were signed by Mr. M. Abdullah Yusuf, Secretary Petroleum and Natural Resources on behalf of the President Islamic Republic of Pakistan, Mr. G.A. Sabri, Director General, Petroleum Concessions, Mr. F.J. Hicks, Director Exploration Paige Limited and Mr. Javed Ahmad Chief Executive Officer RDC. Talking to the newsman Mr. G.J. Hicks termed the oil and gas potential in Pakistan "very prospective and encouraging" and hoped that Paige Ltd. would be looking forward for further investment to boost its activities in days ahead.
	Back to Top