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Some Middle Eastern-based companies have shown interest in the construction of a 'single point mooring' project in deep sea with allied facilities near Khalifa point along the Balochistan coastline.
The project costing over $100 million would provide facility to oil tankers to discharge their liquid cargo in deep sea and transport it through a pipeline to nearest oil storage tanks.
Sources told Business Recorder the new facility is cost-effective and safe for importing crude oil and served as a futuristic means for fuel handling.
In this regard, a meeting was held under the chairmanship of adviser to the prime minister on energy Mukhtar Ahmed here on Monday with all stakeholders to review the proposal.
He also invited a private sector company that is part of the sponsor of the project for further execution and all related information. The government is keen to improve logistic issue for oil and gas handling. The project is expected to increase value to the planning process started by concern ministries, a source said.
The government is reviewing the proposal of the project due to its strategic nature, benefits to the existing and future refinery projects as well as capability to safeguard natural disasters for ocean-going vessels. A source said the project is capable of handling liquid petroleum gas (LPG) and would help reduce burden on existing resources of the country.
A large number of participants from ports and refining sector attended the meeting.

Copyright Business Recorder, 2005

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