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Fact, figures & incentives

Article - April 30, 2014
With a history spanning nearly 150 years, Pakistan’s oil and gas industry has entered a kind of forced renaissance owing to energy shortages
PAKISTAN ENERGY
● In total 850 exploratory wells (since inception) have been drilled till September 2013, (834 onshore and 16 offshore)
● In total 97 wells (35 exploration and 62 development) were drilled during 2012-13
● 32 concessions signed in last three years attracted commitment of minimum $169.56 million in exploration phase
● According to the Ministry of Petroleum & Natural Resources, an assessment of yet-to-find reserves at an unrisked value for all of the basins studied to date suggests 3,585m barrels of oil and 66.26 tcf of gas
● Oil production in 2012-2013 averaged 76,277 bpd, whilst gas production reached a record-breaking 4.259 bcfd in the previous year
● The sector attracted $258 million in FDI between July 2013 and January 2014
 
To stimulate interest, the 2012 Petroleum Policy and Upstream E&P Rules include the following incentives: 
 
● Increase in producer gas price from 31% to 68% for different zones
● Sale of a 90% share of pipeline-specification gas to the government of Pakistan and 10% by E&P companies to any buyer
● Reduction in the windfall levy from 50% to 40% 
● Renewal of a lease after expiry of the lease term for another five years subject to payment of an amount at 15% of the wellhead value
● No direct state participation. Instead, a sliding scale production sharing arrangement will be used
● Four-year holiday on royalties 
● Corporate tax is capped at 40% of profits/gains
● Royalties, marine research fees and training are treated as expenses and can be put towards cost recovery 
● The cost of oil/gas recovery limit of 85% is allowed during one year
● Accelerated depreciation for investment on successful exploration, facilities and offshore platforms 
● An unlimited period allowed for loss carryforward

COMPANY DATABASESee all Database >

FUJISASH CO.,LTD.

Manufacturing, Japan

ABLIC Inc.

Manufacturing, Japan

LEADER DATABASESee all Database >

Katsumi Ishizaka

CEO & President
Fuji Silysia Chemical L.T.D.

TSUTOMU YOSHIDA

Representative Director and President
FUJISASH CO.,LTD.

Nobumasa Ishiai

President and CEO, ABLIC Inc. Senior Managing Executive Officer, MinebeaMitsumi Inc. (Parent Company of ABLIC)
ABLIC Inc.

HIROSHI KOYAMA

MANAGING DIRECTOR
JUJO CHEMICAL CO., LTD.

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