The Economic Coordination Committee (ECC) of the cabinet on Wednesday allowed continuation of gas supply to Fauji Fertiliser Bin Qasim for another five years. Reuters/File
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday allowed continuation of gas supply to Fauji Fertiliser Bin Qasim for another five years and removed a cap on dividend distribution on Mari gas to facilitate divestment of about 20 per cent of its shareholding.
A meeting of the ECC presided over by Minister for Finance and Revenue Dr Abdul Hafeez Shaikh also approved a technical supplementary grant of about Rs190 million, including Rs150m for advertisement campaign for projection of government activities on Covid-19 and Kashmir Solidarity Day.
OGDCL discovers gas in Sindh
Business
February 3, 2021
KARACHI: The Oil and Gas Development Company Limited (OGDCL) has reported gas and condensate discovery from its exploratory well Sial-1, which is located in Hyderabad district, Sindh, a statement said on Tuesday.
OGDCL is the operator and holds 95 percent interest and the Government Holdings (Pvt) Limited holds 5 percent in Sial-1.
The structure of Sial-1 was drilled and tested using OGDCL’s in-house expertise. The well was drilled down to the depth of 2,442 meters.
Based on logs data, the well was tested at the rate of 1.146 million standard cubic feet per day (MMSCFD) of gas and 680 barrels per day (BPD) of condensate, it said.
Petroleum Division backs long-term LNG deal
Secretary tells Senate panel on petroleum it will ensure smooth supply
LNG PHOTO: FILE
ISLAMABAD:
With the Pakistan Tehreek-e-Insaf (PTI) government set to open the liquefied natural gas (LNG) market for the private sector to reduce financial risk, a Petroleum Division official has underlined the need for a long-term LNG deal.
The country has already a long-term LNG deal with Qatar. Consumers are forced to consume expensive LNG due to the involvement of government entities in the entire chain.
The private sector has been struggling for several years to import LNG but it has been denied the opportunity due to monopoly of state-run companies despite the fact that the consumers had paid a tolling fee to the LNG terminal for idle capacity. Now, the Petroleum Division secretary informed a parliamentary panel on Monday that there should be a long-term LNG contract for smooth supply.
Pakistan: OGDCL announces gas condensate discovery at Sial-1 well
02 Feb 2021
Oil and Gas Development Company Limited (OGDCL) as operator (95%) and Government Holdings (Pvt) Limited (5%) has discovered gas & condensate at its exploratory well
Sial-1, which is located in Hyderabad, Sindh Province.
The structure of Sial-1 was drilled and tested using OGDCL s in house expertise. The well was drilled down to the depth of 2442 Meters. Based on logs data, the well was tested at rate of 1.146 million standard cubic feet per day (MMSCFD) of gas and 680 barrels per day (BPD) of condensate through 32/64 choke at well head flowing pressure of ~460 pound per square inch (Psi) from Lower Goru Formation.
A meeting of the Senate Standing Committee on Petroleum was informed that about 2.2 million people were associated with oil smuggling in Balochistan. ─ Reuters/File
ISLAMABAD: A parliamentary committee on Monday asked the government to commit a major part of savings from its drive against smuggling of petroleum products through the Iranian border worth over Rs200 billion annually to livelihood projects to avoid any unrest arising out of closure of illegal business of the people involved.
A meeting of the Senate Standing Committee on Petroleum presided over by Senator Mohsin Aziz was informed that about 2.2 million people were associated with oil smuggling in Balochistan because of limited job opportunities.