Month: July 2023

OGDCL Achieves Remarkable Increase in Oil and Gas Production in July 2023

Admin
ogdcl

ISLAMABAD, July 31, 2023: While successfully implementing cutting-edge technologies and industry’s best practices, the Oil and Gas Development Company Limited (OGDCL) has recorded a substantial production increase during the month of July 2023. The company has achieved remarkable enhancements in oil and gas production across various exploration and development wells. These significant milestones mark the company’s commitment to delivering excellence and strengthening Pakistan’s energy landscape. Notable accomplishments include the successful performance of the Nim East-1 exploratory well. Nim East-1, an exploratory well located in the Tando Allah Yar district of…

Read More

OGDCL sees significant oil & gas production increase in Sindh

Admin
oil-gas.

Oil and Gas Development Company Limited (OGDCL) has registered a significant increase in oil and gas production from four of its wells located in Sindh. The oil and gas exploration company on Monday shared the details of its production enhancement recorded in the month of July via notice to the Pakistan Stock Exchange (PSX). OGDCL attributed the production enhancement to the use of “cutting-edge technologies for production optimisation”. Significant enhancement in production were witnessed in Nim East-1, an exploratory well in a joint venture with OGDCL as Operator (95%) and…

Read More

Pakistan expects Gulf investment in renewable sector: Dastgir

Admin
Khurram-Dastgir

Federal Minister for Energy Khurram Dastgir on Monday said Pakistan expects investment from Gulf countries in the renewable energy sector. Addressing media persons, the federal minister stressed on the increased usage of renewable energy. “In the coming days, we will be offering Gulf countries investment opportunities in the renewable energy sector. This is part of the SIFC (Special Investment Facilitation Council).” “We expect huge investment in not only Pakistan’s refineries but also in the renewable sector,” he said. The minister said in the span of 15 months, the incumbent government…

Read More

Pakistan mining summit: govt says interests of investors to be protected

Admin
Musadik-Malik

State Minister for Petroleum Dr Musadik Malik said the government would protect international investors that are interested in the country’s mining sector. Addressing a press conference on Monday, the state minister said the government has established a one-window operation to facilitate foreign investment. “In the shape of SIFC (Special Investment Facilitation Council), we have established a one-window operation, which would be presided by the Prime Minister and the Chief of the Army Staff (COAS),” he said while addressing media persons. The remarks come a day before Pakistan holds a mineral…

Read More

300MW coal-based Gwadar power plant: Nepra extends levelised tariff of 7.78 cents for 30 years

Admin
Gwadar-power

ISLAMABAD: Nepra has accorded approval to the levelised tariff at 7.78 cents (Rs22.34) per unit for 30 years of 300MW Gwadar coal-based power plant to be constructed under the CPEC umbrella. The project will be commercially operational in three years’ time and the plant availability will be 85 percent. The regulator has determined the tariff on the basis of debt-equity ratio of 80:20 by ensuring the XIRR (extended internal rate of return) of 14 percent at an EPC cost of $321.41 million. Nepra came up with the decision on July…

Read More