Senator Talha Mehmood, Chairman, Senate Standing Committee on Interior on Saturday said that the Qadirpur Gas Field has reserves of over $5 billion and the decision of its privatisation is wrong as the move will deprive the country of a high value profitable asset.
Qadirpur Gas Field is contributing to the country's economy besides addressing the energy crisis of the country, Talha Mehmood said while talking to office-bearers of the OGDCL Labour Union, who called on him here. Talha said that the Labour Union officials informed him that Qadirpur Gas Field is contributing a sizeable amount to OGDCL revenue besides its contribution to the country's economy is shape of taxes.
He said that the country is facing biggest energy crisis at present and in future this crisis will deepen if measures were not adopted to tackle the situation. "We need to take right and in time decisions to meet these challenges," he added. He said that the gas reserves of the Qadirpur Gas Field are more than $5 billion as it has over 3.5 billion cubic feet reserves. At present 24 wells of this field are producing 550 MMSCFD gas per annum. There are expectations of 100 MMSCFD increase in gas capacity of the field by the end of 2008.
He said that only one layer of the gas reserves in Qadirpur is being explored so far while there are three more layers. He said that there will be 690 MMSCFD gas available from this field till 2014.
The decision of selling the gas field is being taken mainly because of 75 percent shares of the Oil and Gas Development Corporation Limited (OGDCL), he said adding that the priority should be given to national interest, as it is a second largest gas field of the country and big support to national economy.
Talha Mehmood said that the decision of privatisation of Qadirpur Gas Field will affect huge number of development project in the country including Kunnar, Pasakhi, Tando Allayar projects as well as drilling out four new wells. He said that the Qadirpur Gas Field is a joint venture of OGDCL, KUFPEC and PkPEP and was developed in three phases and at present producing 1000 barrel oil, 50 MMCFD raw gas for LPL for power generation besides 550 MMSCFD being given to SNGPL.
He said that the facts regarding the economic and national importance of the gas field reveal that Qadirpur Gas Field is of very high value having national importance. He called upon the government not to privatise this gas field as its privatisation will not help support the country's economy.
Instead of indulging in privatisation of profit earning institutions of national importance, we have to empower the Oil and Gas Development Corporation Limited (OGDCL) to explore more oil and gas fields to help the country overcome energy shortage," he added.
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