Govt releases Rs6.49 billion for 13 petroleum sector projects

ISLAMABAD: The government has so far released Rs6.49 billion to execute seven ongoing and six new petroleum-related projects under the Public Sector Development Programme (PSDP 2021/22) aimed at accelerating oil and gas exploration activities and achieving self-sufficiency in the energy sector.

According to the official data as of July 16, Rs6.49 billion has been authorised/disbursed of the total allocation of Rs3.24 billion for 13 petroleum sector projects.

As per the PSDP document, the funds amounting to Rs1.473 billion had been earmarked for seven ongoing schemes, of which Rs263 million were meant for the establishment of the National Minerals Data Centre (NMDC); Rs345.321 million for the expansion and upgradation of the Pakistan Petroleum Core House (PETCORE); Rs30 million for Geological Mapping on 50 Toposheets, of the 354 unmapped Toposheets of outcrop area of Balochistan; Rs385.336 million for strengthening and upgradation of Karachi Laboratories Complex (KLC) at HDIP Operations Office; Rs76.580 million for the supply of 13.5MMCFD gas at Doorstep (Zero Point) of Dhabeji Special Economic Zone (SEZ), Sindh; Rs230 million for the supply of 30MMCFD gas at Doorstep (Zero Point) of Rashakai Special Economic Zone (SEZ); and Rs143.446 million for the upgradation of POL testing facilities of HDIP in Islamabad, Lahore, Multan, Peshawar, Quetta and ISO Certification of the Petroleum Testing Laboratory in Islamabad.

Similarly, for six new schemes, the government had earmarked Rs1.775 billion in the PSDP, of which Rs40 million were kept for the development of Strategic Underground Gas Storage (SUGS), hiring of consultancy services for bankable feasibility study and transaction advisory services (PC-II); Rs30 million for legal consultancy services for drafting of model mineral agreement and updating of regulatory framework (federal and provincial minerals/coal departments) prepared by the Mineral Wing, Petroleum Division; Rs40 million for the Pakistan National Research Programme on Geological Hazards (earthquakes and landslides), data acquisition along active faults and identification of potential landslides hotspot zones; Rs73.447 million for the supply of 10MMCFD re-gasified liquefied natural gas (RLNG) to Bostan Special Economic Zone; Rs149.410 million for the supply of 13MMCFD RLNG to Bin Qasim Industrial Park; and Rs785 million for the supply of 40MMCFD gas/RLNG to the Allama Iqbal Industrial City Special Economic Zone (SEZ), Faisalabad.

Also Read

Petroleum products share in power generation falls 43%; gas shortfall to rise further

ISLAMABAD: The consumption of petroleum products in the power sector declined 43...