Austria's OMV says that the government has approved a development plan for the Miano gas field in the province of Sind. The company says that a decision could be made within the next few weeks on how the development will progress. Partners in the venture are expected to decide soon whether or not to construct a new gas plant or use a nearby existing one in the Kadanwari field, operated by the UK's Lasmo.
OMV is the operator of the field, where gas was discovered in 1993. The government's Oil & Gas Development Corporation has a 52 per cent stake in the venture and Pakistan Petroleum and the UK's Hardy Oil & Gas each hold 15.16 per cent. The remaining 17.68 per cent is held by OMV.
The field has proven reserves of 0.32 million million cubic feet (tcf). Actual reserves could be up to 0.5 tcf, OMV says. The company says it hopes that it will be able to produce about 100 million cubic feet a day and it will be in production by early 1999.
OMV has also applied to the Petroleum & Natural Resources Ministry for an exploration licence in the Khanpur block close to the Indian border.
You might also like...
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.