An overview of Pakistan Onshore Fiscal System offered under Petroleum (Exploration & Production) Policy 2009
Article from: OGEL 1 (2009), in Middle East, Buy Back Contracts
The Government of Pakistan has announced and formally notified a new Petroleum (Exploration and Production) Policy 2009 (“2009 Policy”) on March 20, 2009. The said Policy promises better fiscal system as compared to 2001 and 2007 Policies. Natural Gas and Associated Gas Price has been reasonably increased. Bid evaluation and gas pricing formulae have been simplified. There is no mandatory carried state participation during exploration phase. Local companies including public sector oil companies are obligated to pay their full share of exploration cost from day one. The value of ...