Additional gas supplies
Karachi and Hyderabad will get additional 50 MMCF per day gas supplies
from Badin oil and gas fields following signing of an agreement between Sui Southern Gas
Co (SSGC) and the operators of the Badin Gas Fields, Union Texas Pakistan (UTP) on
The agreement was signed by Aslam Farook, managing director SSGC and
vice president and director of UTP, Tariq Khamisani on behalf of their companies.
As a result of the agreement, the quantity will increase from an
average sale of 150 MMCF per day to 200 MMCF per day. Gas is being supplied from Badin
fields since '89, says a press release.
The additional 50 MMCF per day would further save the country's sizable
foreign exchange as high sulphur fuel oil will be displaced.
Bidders shy away from timber auction
The Azad Kashmir Timber Merchants Association is not taking part in the
auction of the commercial timber under the forests department and the AKLASC (Azad Kashmir
Logging and Sawmills Corporation) in protest against the re-imposition of LB tax on
The secretary general of the Association, Raja Mohammad Naseem Khan,
told newsmen here at the Press Club on Wednesday that since the resumption of the LB tax,
five auctions had been held by the forests department and the AKLASC, but none of the
merchants participated in the bidding, which, according to conservative estimates,
inflicted financial losses to the tune of Rs 100 million on the government.
Mr Khan said that on each cubic foot (cft) of timber, the timber
merchants were already paying Rs 8 as Neelum Valley Development Board Tax besides many
Oil, gas deals to get legal cover
The federal government has decided to provide legal cover to the
agreements it aims to reach with the oil and gas exploration companies on the pricing of
the newly discovered oil and gas, well-placed sources in the Petroleum Ministry have
Authorities at the ministry are busy in drafting legislation to the
enacted as an ordinance by the President of Pakistan. Office of the Petroleum Secretary,
Abdullah Yusuf, is the main hub of "legislative activity. Abdullah has conveyed to
the exploration companies the government's desire to "make firm commitments covered
by the law on the controversial issues like pricing," sources in the ministry said.
Chashma plant to be ready by mid-2000
Pakistan's second nuclear power station, being built with China's
assistance, will come on line in mid-2000, PAEC Chairman Ishfaq Ahmed said on Wednesday.
The 300 megawatt nuclear power project is under construction at Chashma
The country's first nuclear power plant has been in operation in
Karachi for more than three decades. The Pakistan Atomic Energy Commission Chairman
described the new station as a "symbol of Sino-Pakistan cooperation in high
The project is "totally for peaceful purposes," the PAEC
Seven exploration licences granted
The government on Wednesday granted seven new petroleum exploration
licences to local and foreign companies for exploring oil and gas in Pakistan.
Out of seven, five licences were issued to the joint venture Orient
Petroleum Inc. (95 per cent) and Government Holdings (5 per cent) and to another joint
venture Oil and Gas Development Co (95 per cent) and Government Holdings (5 per cent).
Orient led joint venture secured petroleum exploration rights over
Khewari block No.2568-3, 1625 sq kms Sinjhoro block No. 25685 2351 sq kms, Khipro block
No. 2568-6 2246 sq. kms, Mirpurkhas block No. 2568-7, 3335 sq.kms located in Sanghar,
Mirpur Khas, Umarkot, Khairpur, Nawabshah and Hyderabad districts of Sindh, and Mehar
block No. 2767-1, 5030 sq.kms in Larkana/Dadu (Sindh) and Khuzdar (Balochistan).
OGDCL secured petroleum exploration rights over block No. 2568-9,327
sq.kms, in Hyderabad district and Karam Khel block No. 3371-4, 390 sq kms, in Karak (NWFP)
and Mianwali district (Punjab). Petroleum Concession Agreements were also signed between
Orient also executed assignment accord with OGDCL wherein Orient
transferred its entire working interests in Khewari block and 76%, in Sinjhoro block along
with operatorship of both the blocks. All these blocks have been awarded through
Orient led joint ventures intend to make a risk investment of about
$70.2m for a programme comprising surveys and drilling of 30 wells during the initial
three years terms.
OGDCL led joint ventures have a minimum work obligation of surveys and
drilling of 5 wells during the initial three years term with minimum expenditure
obligation of $24.3m.
74.9pc stakes in lead mining sought
PASMINCO of Australia has asked the present government for the
entitlement of its share of 74.9 per cent to start mining of lead-zinc deposits at Duddar,
Lasbela district of Balochistan under a tripartite accord with Pakistan Mineral
Development Corporation (PMDC) and Balochistan Development Authority (BDA). The shares
held by PMDC and BDA are 12.55 per cent each.
Official sources confirmed here on Wednesday that the feasibility
report, already prepared, proved 14.31 million tons (11.5 per cent combined lead and zinc)
at Duddar area.
The Kissan Board Pakistan has slated the threat of closing down mills
by the Pakistan Sugar Mills Association.
In a statement here on Tuesday the board said that it was unfortunate
that when industrialists made hey last year due to high sugar rates they did not pass on
this benefit to farmers. And now when sugar industry was under some pressure they were
harassing farmers by not lifting their produce and closing down their units. The board
announced to hold a countrywide convention of farmers in Islamabad on coming January 25 to
mobilize growers against the industrialists' designs.