E and P companies paid Rs2.197 billion oil royalty in three years.

ISLAMABAD -- The government had collected an amount of Rs2.197 billion on account of oil royalty from five hydrocarbon Exploration and Production (E and P) companies during the last three years for onward payment to the provinces concerned.

'The royalty amounting to Rs2,197.17 million has been collected from five E and P companies who discovered oil reserves in their 29 fields located in different parts of the country during the last three years,' according to an official document available with reporter.

The companies, including United Energy Pakistan Limited, Oil and Gas Development Company Limited, Pakistan Oilfields Limited, Pakistan Petroleum Limited and Mari Petroleum Company Limited, had paid Rs38.86 million as oil royalty in 2016-17, Rs449.99 million in 2017-18 and Rs1,708.33 million in 2018-19.

Meanwhile, a senior official privy to petroleum sector developments said the Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) would spend around Rs1.384 billion to carry out welfare schemes and development projects in their operational areas during the current fiscal year under the Corporate Social Responsibility (CSR) initiatives.

For the purpose he said, the OGDCL had earmarked Rs1,019 million and PPL Rs365.7 million under their CSR programmes to be executed in 2019-20.

Every year...