Four oil, gas fields get 5-year lease extension

The Economic Coor­dination Committee (ECC) of the cabinet on Thursday approved supplementary grants worth Rs912.5 million and an extension in the lease period to four oil and gas-producing fields for accelerating exploration activities. The ECC meeting, chaired by Finance Minister Ishaq Dar, approved a disbursement of Rs284.5 million in financial assistance to 317 families of martyrs and injured persons of the Jan 30 terrorism incident in a Peshawar mosque, in which 84 persons embraced martyrdom and 233 persons were injured. The families of Shaheed would be given Rs2 million each in financial support and Rs500,000 each to that of the seriously injured person. Oil, gas exploration On the summaries of the Petroleum Division, the ECC granted to state-run Oil & Gas Development Company ECC also approves grants, including Rs284.5m for Peshawar blast victims Ltd (OGDCL) a five-year renewal of Bhal Syedan Development and Production Lease (D&PL), covering an area of 16.41 sq-km located in district Attock, Punjab, with effect from Jan 1, 2022 till April 10, 2024. Likewise, the declaration of commerciality, approval of Field Development Plan, and grant of Development and Production Lease over Fazil Discovery (Mubarik Block) for five years from