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Apr 10 - 16, 2000

  1. International
  2. Finance
  3. Industry
  4. Policy
  5. Trade
  6. Gulf

Gas reserves found in Sindh

Pakistan Petroleum Limited (PPL), on Wednesday announced a new gas discovery in Block 22, Sindh.

An official announcement said the PPL had made their third consecutive gas discovery in the well Sadiq X-1. The exploration block is located in the districts of Jacobabad, Shikarpur, Sukkur and Khairpur.

The well has penetrated 23.5 meters of gas column in the Sui main limestone formation with 17.5 meters of net pay.

One successful drill stem test was carried out which produced maximum of 12.38 MMscfd of gas at a flowing wellhead pressure of 590 psig. Initial gas analysis indicates the gas to have negligible amount of hydrogen sulphide. The gross heating value of the gas is estimated to be 734 BTU/scf.

The Joint Venture intends to supply the gas from this well and the earlier discovery in the block at well Hasan X-1 into the SSGCL's Indus Left Bank Pipeline (ILBP) as soon as possible. The three consecutive discoveries, Hamza X-1, Hasan X-1 and Sadiq X-1 in the block have increased the chance of discovering gas in the other two remaining structures in the block which are planned to be drilled in the near future.

Saindak project to go private

The government has decided to hand over the Saindak coppergold project to the private sector as they lacked the adequate funding required for its revival, it was announced by the spokesman of the ministry of petroleum and natural resources.

Briefing the newsmen on the performance of the ministry, he said that due to lack of funding the project has been facing difficulties over the years. "The government has decided to either privatise it or lease it out to some private company to restart the facility," he added.

He said the government was making desperate efforts for working out policy for opening up Balochistan for exploration activities. "High-level meetings are going on in the ministry to finalise the details," he said.

Responding to a question with regard to the Iran-India pipeline that would cross through Pakistan, he said the Indian government has some reservations about the project and discussions with the Iranian government were still going on to give the project a final shape.

The spokesman dispelled as misplaced the Indian apprehensions that Pakistan would interfere with the gas supply through this pipeline. "We have no intentions to block the gas supply through this proposed pipeline," the spokesman said.

Research on rice

A major breakthrough has been made by the scientists that will enable the world's scientific community to greatly accelerate the development of more nutritious and higher yielding rlce.

It was announced by Monsanto Pakistan Agritech Ltd with an assurance that this breakthrough in the decoding of the genetic make-up of rice will be shared with researchers around the world.

Western China offers lucrative market

China has invited Pakistani entrepreneurs to play an active role in the development work of its western region which has rich resources, immense market and a huge economic potential.

The leader of Chinese delegation Ma Yau, and vice chairman of China Council for the Promotion of International Trade (CCPIT) extended this offer at the inaugural session of the first meeting of Pak-China Joint Business Council held on Monday at the Federation House, Karachi.

On opening up of development work in the next few years in the western region, neighbouring Pakistan, he said, a lot of opportunities will be available to Pakistani businessmen.

China has decided to develop the western region and accelerate the development of midwest region, he said.

Gas for FJFC on sustained basis

The federal government is likely to approve supply of 75 MMCFD of gas to the FJFC's DAP/urea plant, Karachi on concessional rates for next ten years.

Official sources told that the Economic Coordination Committee (ECC) is expected to take a decision on the proposal next week when it meets here on April 5.

Unicef to provide $92m

Unicef will provide $ 92 million for child health care and primary school education for girls projects.

An agreement to this effect was signed here on Tuesday by Federal Health Secretary Ejaz Rahim, and UNICEF representative Stephen H. Umemoto.

Of this amount to be spent in five years till 2003, $ 57 million has been earmarked from general resources and $ 35 million for supplementary projects from special funding.

Major areas of cooperation include child health, water and environmental sanitation, women's health, nutrition etc.

The implementation would bring together the government, donors, and civil society through NGOs for sustainable national progress towards improving the situation of women and children.

NRL plans HSD output rise

National Refinery Ltd (NRL) plans to increase high speed diesel (HSD) output by 25 per cent to 800,000 tonnes a year after the startup of a new mid-country refinery in September, a top official said.

M.M. Hussain, NRL managing director, told Reuters late on Monday that increased diesel output would result from surplus kerosene conversion into diesel and was possible only after a 4.5 million tonnes Pak-Arab Refinery Co (Parco) becomes operational.

Pervez, Thai PM for reviving relations

Pakistan's Chief Executive, Gen. Pervez Musharraf, held 70-minutes talks here on Monday afternoon with Thai Prime Minister Chuan Leepai at the Government House and the two countries agreed to reinvigorate their mutually beneficial economic cooperation.

Musharraf and Leepai recalled the history of close relations between the two countries and expressed the mutual desire to revive their economic and commercial relationship, Foreign Minister Abdul Sattar said soon after the talks here.