Government to expedite petroleum exploration
Based on the series of surveys conducted by Petroleum Exploration Promotion Project, Department of Mines and Geology, the government has recently signed a petroleum exploration agreement with two international companies.
According to Project Chief Rajendra Prasad Khanal, the government had last month signed agreements with the USA-based company BB Champion and the UAE based EABG Company for petroleum exploration.
As per the agreement, the exploration work shall take place at Janakpur and Rajbiraj Block which is spread in 9,861 square kilometers of land and in Biratnagar Block spread in 4,969 square kilometer of land.
They are given four years for preliminary study. The government has already given licenses to international companies for exploration works in all 10 Blocks selected for petroleum exploration.