Petroleum Division has been allocated with funds of PKR 1.480 billion for oil and gas exploration in the country. The funds have been allocated under the Public Sector Development Program (PSDP) for 2022-23. They will primarily cover nine ongoing projects in the petroleum sector of the country in addition to financing new exploratory ventures by government-run oil companies. In addition, PSDP has also made an allocation of PKR 150.560 million to establish the National Mineral Data Centre (NMDC) and PKR 303.700 million to upgrade the Pakistan Petroleum Corehouse (PETCORE) to augment its efforts in oil and gas exploration in the country.

Similarly, PKR 100 million has been earmarked for Geological Mapping of 50 Toposheets out of 354 unmapped Toposheets of Outcrop Area of the Balochistan Province. PSDP fund has also made allocations of PKR 70 million for Legal Consultancy Services for the drafting of Model Minerals Agreement and updating of the Regulatory Framework of the Federal and Provincial Minerals & Coal Departments.

In the same vein, PKR 200 million has been set aside for the Pakistan National Research Programme on Geological Hazards (Earthquakes and Landslides), Data Acquisition along Active Fault lines, and Identification of Potential Landslides Hotspot Zones. The Petroleum Division will also get PKR 224.809 million for revamping the Karachi Laboratories Complex (KLC) at HDIP Operations Office, Karachi.

PKR 100 million will be provided to the Petroleum Division for the supply of 10 MMCFD gas/RLNG at the doorstep (zero point) of Bostan Special Economic Zone, Balochistan, and PKR 74.705 million for the supply of 13 MMCFD gas/RLNG at the doorstep (zero point) of Bin Qasim Industrial Park Special Economic Zone, Sindh (SSGCL). Also, PKR 256.735 million will be given to the Petroleum Division for the supply of 40 MMCFD gas/RLNG at the doorstep (zero point) of Allama Iqbal Industrial City Special Economic Zone, Faisalabad (SNGPL).

Credit : Independent News Pakistan-WealthPk