LASMO: A three-year exploration licence for the Kirthar concession in Sind. Lasmo has a 47.5 per cent interest and is the field operator. The other shareholders are Shell Pakistan (47.5 per cent) and the Oil & Gas Development Corporation (OGDC - 5 per cent).

SHELL EXPLORATION PAKISTAN: A three-year concession agreement for the Salt Range blocks 3272-1 and 3272-2 was signed with the government, who has retained a 10 per cent interest in the concession.

PREMIER CONSOLIDATED OILFIELDS: Two concession agreements for blocks 2768-1 (Kandra) and 2966-1 (Bolan).

BRITISH GAS: An exploration licence for the Sulaiman block in Baluchistan. British Gas has a 57 per cent interest and is the field operator. The other shareholders are Monument Resources (Pakistan - 23.75 per cent), Pict Petroleum (14.25 per cent) and OGDC (5 per cent).

Two exploration licences for the Guddu and Gambat blocks in the central Indus basin in partnership with the government.

A joint development agreement with Saigols Group for the establishment of a 300-MW gas-fired power plant in the Taunsa area in Punjab.

A joint-venture agreement with Sui Southern Gas Company (SSGC) to install gas turbo expanders at several locations. A separate training contract has also been signed with SSGC.

BIWATER INTERNATIONAL: A declaration of intent with the government to set up a 15-MW hydroelectric scheme at Sai, near Gilgit in the north. The estimated project cost is $30 million.

ICI: A letter of intent for the construction of a pure terephthalic acid (PTA) plant at Port Qassim at an estimated cost of $400 million.

GREYHOUND HOUSE: A memorandum of understanding with the Pakistan Tourist Development Corporation to develop infrastructure in the north.