Petroleum Division’s Directorate General (DG) Oil has revised allocation of condensate produced from Kunnar Pasaki Deep (KPD) to refineries.
In addition Oil and Gas Development Company Limited (OGDCL) has been directed to submit a draft Condensate Sale Agreement (COSA) for approval of the competent authority.
DG Oil, in a letter dated March 11, 2022 to Managing Directors (MDs) of Oil and Gas Development Company Limited (OGDCL), Enar Petroleum Refining Facility (EPRF), Pak-Arab Refinery Limited, Cnergyico Pakistan Limited and National Refinery Limited, said that the he (DG Oil) has been pleased to revise allocation of 2,000 barrels per day (bpd) condensate produced from KPD.
According to revised allocation of 2,000 bpd condensate of KPD to the refineries, 500 bpd of condensate will be supplied to NRL, 966 bpd condensate to EPRF and 534 bpd condensate to PARCO.
The DG Oil, in his letter to MDs of refineries, also said that the pricing mechanism given in the relevant Petroleum Concession Agreement (PCA) will be adopted for pricing KPD condensate and applicable government discount, windfall levy to be deposited in the government account.
“Furthermore, OGDCL is requested to submit a draft Condensate Sale Agreement (COSA) for approval of the competent authority which should be in line with relevant PCA and model COSA approved by the Economic Coordination Committee (ECC) of the cabinet,” said the letter.
It is pertinent to mention that the OGDCL was previously supplying 666 bpd condensate to NRL, 334 bpd condensate to PARCO and 1,000 bpd condensate to BYCO out of the total 2,000 bpd condensate from KPD field.