Rs1.9bn released for 13 petroleum sector projects in FY22

ISLAMABAD: The government has released funds amounting to Rs1.9 billion to execute seven ongoing and six new petroleum-related projects during the last fiscal year under the Public Sector Development Programme (PSDP 2021-22) against a total allocation of Rs3.2 billion.

As per details, out of the total disbursement of Rs1,949.72 million, around Rs586.54 million have been spent on petroleum projects to accelerate oil and gas exploration activities and achieve self-sufficiency in the energy sector.

As per the PSDP document, funds amounting to Rs1.4 billion had been earmarked for seven ongoing schemes, out of which Rs263 million were meant for the establishment of the National Minerals Data Centre (NMDC), Rs345.321 for the expansion and up-gradation of Pakistan Petroleum Core House (PETCORE), Rs30 million for geological mapping on 50 toposheets, out of 354 unmapped toposheets of outcrop area of Balochistan, Rs385 million for strengthening and up-gradation of Karachi Laboratories Complex (KLC) at HDIP Operations Office, Rs76.580 million for the supply of 13.5 MMCFD gas at zero point of Dhabeji Special Economic Zone (SEZ), Rs230 million for the supply of 30 MMCFD gas at zero point of Rashakai Special Economic Zone (SEZ) and Rs143.446 million for up-gradation of POL testing facilities of HDIP at Islamabad, Lahore, Multan, Peshawar, Quetta as well as ISO Certification of Petroleum Testing Laboratory at Islamabad.

Similarly, for six new schemes, the government had earmarked Rs1.7 billion in the PSDP, out of which Rs40 million were kept for the development of Strategic Underground Gas Storages (SUGS) – hiring of consultancy services for bankable feasibility study and transaction advisory services (PC-II), Rs30 million for legal consultancy services for drafting a model mineral agreement and updating the regulatory framework of federal and provincial minerals/coal departments prepared by mineral wing, Petroleum Division, Rs40 million for Pakistan National Research Programme (PNRP) on geological hazards – data acquisition along active faults and identification of potential landslides hotspot zones, Rs73.447 million for the supply of 10 MMCFD RLNG to Bostan SEZ, Rs149.410 million for the supply of 13 MMCFD RLNG to Bin Qasim Industrial Park and Rs785 million for the supply of 40 MMCFD gas/RLNG to Allama Iqbal Industrial City SEZ.

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