Petroleum Division To Receive Rs 1.480b For 9 Petroleum Projects
According to the PSDP document, the incumbent government set aside an additional Rs 150.560 million for the establishment of the National Mineral Data Centre.
Under the Public Sector Development Programme (PSDP) for the fiscal year 2022–23, the Petroleum Division would receive Rs 1.480 billion to advance nine ongoing petroleum sector projects and accelerate oil and gas exploration activities in potential areas of the country.
According to the PSDP document, the incumbent government set aside an additional Rs 150.560 million for the establishment of the National Mineral Data Centre (NMDC) (Directorate General of Minerals), as well as Rs 303.700 million for the expansion and upgrade of Pakistan Petroleum Corehouse (PETCORE) for its long-term operations to facilitate oil and gas exploration research in Pakistan (HDIP).
Rs 100 million for geological mapping on 50 toposheets selected from 354 unmapped toposheets in the outcrop area of Balochistan Province; Rs 70 million for legal consulting services for the model mineral agreement draught and update of the regulatory framework (federal and provincial minerals and coal departments); and Rs 200 million for the Pakistan National Research Programme on Geological Hazards (Earthquakes and Landslides) – data acquisition along active faults and identification of faults.
Similarly, the Petroleum Division would receive Rs 224.809 million for the strengthening and upgrading of the Karachi Laboratories Complex (KLC) at the HDIP Operations Office in Karachi, Rs 100 million for the supply of 10 MMCFD gas/RLNG at the doorstep (zero point) of the Bostan Special Economic Zone, Balochistan (SSGCL), Rs 74.705 million for supply 13 MMCFD gas/RLNG at the doorstep (zero point) of Bin Qasim Industrial Park Special Economic Zone, Sindh (SSGCL) and Rs 256.735 million for the supply of 40 MMCFD gas/RLNG at the doorstep (zero point) of Allama Iqbal Industrial City Special Economic Zone, Faisalabad (SNGPL).
The PSDP is an important public intervention to encourage private investment through human capital development and infrastructure improvement. The PSDP is in line with the government’s overall long-term development goals. PSDP-financed petroleum projects that are economically viable contribute to economic growth by bridging infrastructure and skill gaps.
The petroleum industry is involved in the global processes of petroleum exploration, extraction, refining, transportation, and marketing. The industry’s most important products are fuel oil and gasoline.