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Rs 649.908 Million Released for 13 Petroleum Sector Projects

In order to carry out seven ongoing and six brand-new petroleum-related projects as part of the Public Sector Development Programme (PSDP 2021-22) with the goal of accelerating oil and gas exploration activities and achieving energy self-sufficiency, the government has thus far released an amount totaling Rs 649.908 million.

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Out of the overall allocation of Rs 3,249.54 million, Rs 649.908 million has been authorised or released for 13 projects in the petroleum industry, according to official data as of July 16.

According to the PSDP document, funds totaling Rs. 1,473.683 million had been set aside for seven ongoing projects, of which Rs. 263 million were intended for the establishment of the National Minerals Data Center (NMDC), Rs. 345.321 million for the expansion and upgrading of Pakistan Petroleum Core House (PETCORE), Rs. 30 million for geological mapping on 50 toposheets out of 354 unmapped toposheets of the outcrop area of Balochistan Province, Rs. 385.336 million

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Similar to this, the government set aside Rs. 1,775.857 in the PSDP for six new schemes, of which Rs. 40 million was set aside for the development of Strategic Underground Gas Storage (SUGS), Rs. 30 million was set aside for legal consultation services for the drafting of Model Mineral Agreement and updating of Regulatory Framework (Federal and Provincial Minerals/Coal Departments) prepared by PC-II.

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