The two PSCs follow a memorandum of understanding signed between Zhenhua and the ministry in November last year.
Under the contracts, Zhenhua will invest $30 million over the next three years to drill two wildcats in the Baska block and one in the Baha Walpur East block, as well as shoot 2D and 3D seismic.
Zhenhua has agreed to farm out 49% of its 100% interest in the two blocks to state-owned oil company Pakistan Petroleum Ltd (PPL).
The
