Pakistan Petroleum Ltd (PPL) has assigned 35% of working interest (WI) in BelaÂ WestÂ 2566-6Â EL (Bela-Muslimbagh-Zhob Ophiolite Belt) onshore licence to Kirthar Pakistan BV (KPBV) with effect from 6 December 2018. As a result, the revised equity split is as follows: PPL (65%, operator) and KPBV (35%). PPL recently spudded Bela West 1 new field wildcat (NFW) well in the block in November 2018, which is the companyâs first well in the acreage.  It was earlier reported in September 2018 that PPL was in the process of farming-out 25% working interest in BelaÂ WestÂ EL to Mari Petroleum Company Ltd (MPCL). PPLâs board of directors had already approved this farm-out which will now go through the process of execution of farm-out agreement with MPCL and approval from the government.   Bela West EL covers an area of 2,455 sq km and is located in the Khuzdar, Awaran and Lasbela districts of Balochistan province. PPL was awarded the licence with the signing of Petroleum Concession Agreement (PCA) on 10 February 2014.    Â   Background Information      PPL      acquired 609 line km 2D seismic in the block during June-November 2015      using the BGP â9501-Eâ seismic crew.     The      company was granted an      18-month extension to the Phase-I of initial term of      BelaÂ WestÂ EL from 10 February 2017 to 9 August 2018.     PPL was      granted a further six-month extension to the Phase-I from 10 August 2018 to 9 February 2019.
Pakistan Petroleum Ltd (PPL) has assigned 35% of working interest (WI) in Bela West 2566-6 EL (Bela-Muslimbagh-Zhob Ophiolite Belt) onshore licence to Kirthar Pakistan BV (KPBV)