GUJJAR KHAN - Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi here on Tuesday inaugurated Adhi III field plant having capacity to produce 25 Mmscfd gas, 150 tonnes of LPG and 55000 barrels of crude oil per day.
Speaking on the occasion, he congratulated PPL and its joint venture partners Oil and Gas development Company Limited (OGDCL) and Pakistan Oil fields Limited (POL) on formal inauguration of the plant.
The decision to install the new plant was based on a compositional reservoirs study carried out in Adhi Field during October, 2011, which indicated potential for considerable production enhancement.
The study resulted in the formulation of a drilling plant for eight development wells, six of which have already been drilled, along with installation of the plant. The minister said that after the inauguration of the plants additional gas would come in the system and reduce the gap between demand and supply.
Shahid Khaqan Abbasi said that additional gas would also help increase power generation.
He said that total demand of the country could not be met with the import of gas.
He said that presently 60 percent gas was proviede to Punjab through its own resources while 40 percent of the demand was being met through load management. "No province is self-sufficient in producing gas to meet the requirement," he added.
The minister said that only 22 percent of total population was using natural gas while rest of the population was using LPG and other resources.
He regretted that despite decrease of LPG price by 30 percent in the international market, its price increased by 50 percent in domestic market.
He said summary had been moved to Council of Common Interests to regulate the prices of LPG.
Abbasi said that the prices of LPG would be brought at par with natural gas.
"We have initiated work on various projects not only to meet today's demand but also future demand. Unfortunately in the past government had failed to start work on the project to meet the energy demand", he added.
He said that imported LPG gas had been added in the system, adding most of the imported gas would be utilized for energy and fertilizer sectors. He expressed the hope that in the coming years, the country would not be required to import fertilizer for domestic needs.
Pakistan, he said, had recently signed 25 billion dollar TAPI project which would be completed by 2019, bringing 1325 mmscfd gas in the system.
He said the government had also started work on Rs 150 billion and Rs250 billion dollar worth of projects to produce gas in the country.
The minister said the government had made appointments in oil and gas related institutions on merit.
Managing Director and CEO PPL Syed Wamiq Bokhari highlighted the company's recent achievements and milestones along with Corporate Social Responsibility project initiated for disadvantaged stakeholder communities around its operational areas, especially Adhi.