Wednesday, April 16, 2014 - Islamabad—Oil & Gas Development Company Limited (OGDCL) MOL Pakistan, and PARCO have signed a Memorandum of Understanding (MOU) for the construction of a crude decanting facility at Mahmood Kot Refinery (MCR), PARCO, Multan.
This would enable both the companies to directly supply their local crude production from the fields mainly located in Khyber Pakhtunkhwa (KPK) to PARCO in Multan directly, instead of transporting the same initially to Karachi and thereafter pumping it back to PARCO through pipeline from Karachi to Multan. The three companies jointly and equally finance the project, with the estimated cost of around Rs 343 million.
MD, MOL was of the view that this project would not only result in tremendous savings in the transportation cost of the crude from fields to refinery but would also go a long way in developing the much needed infrastructure for handling and effective disposal of indigenous crude oil production of the country. He hoped that this project will be a success story for MOL Pakistan and OGDCL for upcoming days.
OGDCL’s MD has said that the project carries huge importance for both the companies in equal measure, as it would enable them to directly supply their local crude production from Khyber Pakhtunkhwa to Multan. This project will be beneficial in terms of time and finance also. “Now we will focus more on completing this project in given time to enjoy the outcomes,” he said.
