Pakistan, Chinese Firms Eye Rs. 20 Billion Gas Deal

Pakistan's Shaheen Energy and China's Anton Oilfield Services Group are exploring investments of around Rs.

Key points

• The proposed cooperation follows amendments to the Petroleum (Exploration and Production) Policy 2012.
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• While Anton will provide oilfield technology and capabilities in upstream development, under the agreement, Shaheen Energy will bring its local operations and gas processing expertise.

Pakistan's Shaheen Energy and China's Anton Oilfield Services Group are exploring investments of around Rs. 20 billion in Pakistan's gas and upstream energy sector over the next three to five years.

Meanwhile, the two firms signed a memorandum of understanding to identify commercially viable projects, with potential areas including third party gas sales, upstream development, field expansion, production enhancement, gas processing and energy infrastructure.

In practice, the proposed cooperation follows amendments to the Petroleum (Exploration and Production) Policy 2012. It allow exploration and production firms to sell up to 35 percent of their pipeline quality gas to licensed third party buyers through a competitive process. PIA Fined Over Rs. 1 Crore for Delayed Baggage Delivery.

Shaheen operates a gas processing facility at the Sinjhoro field with a designed capacity of 10 million standard cubic feet per day. The facility uses membrane technology to process low pressure permeate gas, remove carbon dioxide and upgrade the gas to pipeline quality.

Meanwhile, the facility is at present processing around 8 to 10 million standard cubic feet per day, helping monetize previously underutilized gas while reducing flaring. Shaheen is additionally working with exploration and production businesses on processing, transporting and selling natural and flare gas to third party buyers under the emerging regulatory framework.

Anton Oilfield Services Group operates throughout more than 30 countries and regions, providing services including drilling and completion, reservoir engineering, production enhancement, field management and energy resource commercialization.

Meanwhile, the proposed partnership is projected to focus on stranded and low pressure gas resources, gas monetization, field development and technology based production enhancement. Stay Connected with ProPakistani.

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For now, pakistan, Chinese Firms Eye Rs. 20 Billion Gas Deal remains the part of the story worth watching, and further updates are likely as more details are confirmed.