A green hydrogen fund is being established by five large exploration and production (E&P) corporations, who have committed significant resources to the effort.
Each company has set down a sizeable sum for the fund. Leading exploration and production (E&P) firms Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited (MPCL), Government Holdings Private Limited (GHPL), and Oil & Gas Development Company Limited (OGDCL) have signed a memorandum of understanding (MoU) to investigate and pursue green hydrogen opportunities both inside and outside of Pakistan. By combining the knowledge and resources of each organization, the partnership intends to accelerate the transformation of the energy industry towards a more sustainable future.
In accordance with the MoU, OGDCL, PARCO, PPL, MPCL, and GHPL shall evaluate joint venture initiatives and areas of mutual cooperation. Also, businesses will set up a cooperative fund to raise money for hydrogen project equity. To formally launch the project, a feasibility study will be carried out as a first step. The businesses will promote the usage of environmentally friendly hydrogen energy through this fund.
The MoU will initially be in effect for two years following the date of execution, with the possibility of an extension with mutual consent. Under the condition that all other parties agree, the energy behemoths will take the lead in pursuing green hydrogen projects and will hire consultants and advisors.
According to information provided, the majority of the locations where the company conducts business are remote and have few local health services. Locals can use the health facilities that OGDCL offers at its locations, however getting patients to hospitals in an emergency can be challenging. OGDCL has created a program to give 100 fully equipped ambulances worth Rs. 200 million to hospitals at District Headquarter (DHQ), Tehsil Headquarter (THQ), and Basic Health Unit (BHU) levels across the nation in consideration of this difficulty. These ambulances will be provided to BHUs, THQ, and DHQ hospitals close to OGDCL operations fields in cooperation with the local authority. Federal Secretary of Petroleum Division Capt (R) Muhammad Mahmood spoke at the event and stressed the value of the CSR program. He applauded OGDCL for taking such action to make sure that everyone in the nation has access to health facilities.
Secretary Petroleum provided insightful advice for enhancing CSR programs and enhancing outreach. The importance of concentrating on youth capacity building was emphasized by Secretary of Petroleum. Ahmed Hayat Lak, MD/CEO, OGDCL, spoke at the launch ceremony and stressed the significance of the program for the nation’s health sector as well as how it will enable people have better access to healthcare.
