SSGC signs gas accord with Hycarbex

Saturday, December 12, 2009
KARACHI: Sui Southern Gas Company (SSGC) has inked an Extended Well Text (EWT) Gas Sales and Purchase Agreement (EWT-GSPA) with Hycarbex-American Energy Inc (HAE).

Hycarbex, the operator of the field, will supply up to 28 million cubic feet per day (mmcfd) of gas for 15 months from the Haseeb Gas Field (Yasin Block No 2768-7), the SSGC said on Friday. Gas delivery is expected to start by the end of December 2009, or early January 2010.

SSGC Managing Director Umair Khan and HAE President Dr Iftikhar A Zahid signed the GSPA. Government Holdings Managing Director Raja Irfan Nasr also signed the agreement on behalf of the company which has a working interest in the field. The agreement is the result of extensive negotiations between SSGC and HAE and has been approved by the Oil and Gas Regulatory Authority.

HAE is a partner and operator of the Petroleum Concession Agreement with respect to the Yasin Block along with Government Holdings (Pvt) Ltd and Hypak Asia (Pvt) Ltd.

Haseeb Gas Field is located 4 to 5 kilometres from SSGC’s Shikarpur Compressor Station within the Yasin Block where further exploration for oil and gas reserves is being undertaken by HAE.