document: It was reported in April 2020 that Kirthar Pakistan B.V (KPBV), a subsidiary of KUFPEC, has assigned 25% interest in Makhad 3371-19 EL onshore exploration licence in Potwar Basin to Government Holdings Pvt. Ltd (GHPL) which would be effective retrospectively from the date of award â 22 May 2019. As a result of this transaction the revised equity split is as follows: KPBV 75% (operator) and GHPL 25%. The block, covering an area of 1,563 sq km, is located in the Attock, Mianwali and Chakwal districts of Punjab Province and Kohat district of Khyber Pakhtunkhwa Province.  KPBV was exclusively awarded the licence on strategic partner basis (government to government basis) with the signing of Petroleum Concession Agreement (PSA) on 22 May 2019. The company had committed to spend at least USD 9.8 million in the block by completing 980 work units during the three-year Phase-I of initial term of the Makhad EL concession. This would be achieved by acquiring either 600 line km (LKM) of 2D seismic data or equivalent work units 3D seismic data and by drilling one exploratory well of over 4,500 m depth. In addition to the minimum work commitment, the company will also spend a minimum of USD 30,000 per year on social welfare schemes in the area.  Kirthar Pakistan had submitted the application for Makhad EL on 8 March 2013. It is understood that the company had applied for a larger block area of 2,357 sq km. Five wells are previously known to have been drilled on the acreage which were all proved to be unsuccessful.
summary: Pakistan, Makhad 3371-19