National oil firm Petronas and four others have been awarded an exploration and production contract for two offshore blocks by Pakistan, Petronas announced today.

The production sharing agreement for Blocks G and H in the deep Indus Basin some 300 kilometres from Karachi involves French oil giant Total, OMV, Mari Gas Company Limited (MGCL) and Oil and Gas Development Company Limited (OGDCL), Petronas said in a statement.

Under the agreement, Total is the operator of the blocks, which cover an area of 15,000 square kilometres, with a 40 percent stake, Petronas will hold a 30 percent interest, OMV 15 percent, OGDCL 10 percent and MGCL five percent.

Petronas said the award marked another milestone in its entry into Pakistan, where it is already operating two onshore blocks, Mubarak and Mehar. - AFP