Jura Energy has announced the production of first gas from the Reti-Maru gas fields in the Guddu block, Pakistan.
According to the company, initial production is being controlled to allow buyer and seller facilities testing, commissioning, as well as pipeline packing.
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Jura anticipates gross production to reach 12MMcfd in January 2014, once fully brought on-stream after the commissioning period.
The company is selling the gas to Pakistani fertiliser company Engro Fertilizers as the representative of a consortium of fertilizer companies pursuant to a gas sale agreement it entered in March 2013.
Covering an area of 2,093km², the Guddu block is located in Ghotki, between the Sindh and Punjab Provinces in Pakistan.
Jura holds 10.66% working interest in the block operated by Oil and Gas Development Company.
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By GlobalDataJura Energy president and interim chief executive officer Shahid Hameed said: "We will look forward to utilising the cash flows to accelerate value realization for shareholders."
Reti-Maru gas discoveries qualify for gas pricing under Pakistan Petroleum Exploration & Production Policy 2009 pursuant to changes that were made in the Pakistan Petroleum Exploration & Production Policy, 2012 after the execution of the GSA.
The expected gas price under the 2009 policy conversion regime is expected to be $3.40 per MMBtu, with the expected monthly revenue net to Jura will expected to be 80,000.
