The first time Pakistani companies invest in and explore for oil and gas in an Abu Dhabi concession.
It is first time Pakistani companies will invest in and explore for oil and gas in an Abu Dhabi concession. Adnoc also partners with Pakistani energy companies for the first time, reflecting the deep-rooted bilateral ties between the UAE and Pakistan.
Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Adnoc, and Moin Raza Khan, managing director and CEO of PPL, signed the exploration concession agreement.
Under the deal, Pakistani companies will invest Dh1.12 billion ($304.7 million) during the exploration phase in Abu Dhabi concession that covers an offshore area of 6,223 square kilometers and is located 100 kilometres north east of the city.
The Museum of The Future stands on the city skyline among commercial and residential properties in Dubai, United Arab Emirates, on Tuesday, Oct. 13, 2020. Dubai real estate stocks were once the stars for investors betting on the citys booming economy. But their fall from grace has been spectacular and seems set to continue, given an abundance of unsold homes and scant prospects for a recovery in the oil-rich region. Photographer: Christopher Pike/Bloomberg
New chapter of cooperation
Dr Al Jaber said this historic exploration concession award marks a new chapter of energy cooperation in the 50-year old UAE-Pakistan relationship.
“It represents an important platform upon which we can drive win-win opportunities to support Pakistan’s energy security and further strengthen the strategic and economic ties between our two countries. We are delighted to partner with Pakistan Petroleum Limited and the other members of the consortium on Offshore Block 5.
“The consortium was selected as part of Abu Dhabi’s block bid round where we have once again reinforced our approach to strategic partnerships that contribute the right combination of market access, capital, best-in-class expertise or advanced technology,” the minister said.
“We are very optimistic about the potential to unlock significant value with all our partners in this second competitive block bid round as we continue to accelerate the exploration and development of Abu Dhabi’s untapped resources, in line with the Leadership’s wise directives,” he said.
Golden opportunity
Raza Khan said the PPL-led consortium is delighted to be selected for the concession award of Abu Dhabi’s Offshore Block-5.
“This award is not only a watershed moment for Pakistan and the Emirate of Abu Dhabi towards bilateral energy cooperation and economic links but also offers an opportunity to strengthen strategic cooperation with Adnoc to share technical know-how and expertise.
“We are particularly excited that this consortium comprises the ‘big four’ national exploration and production companies that are fully geared to support Adnoc and the Emirate of Abu Dhabi in reinforcing its leading position in the global energy sector,” Khan said.
Following a successful commercial discovery during the exploration phase, the consortium will have the right to a production concession to develop and produce such commercial discoveries.
Adnoc has the option to hold a 60 per cent stake in the production phase of the concession. The term of the production phase is 35 years from the commencement of the exploration phase and the block offers the potential to create significant in-country value for the UAE over the lifetime of the concession.
New life to Pak energy firms
Samiullah Tariq, head of research at Pakistan Kuwait Investment Company, said this is a strategic partnership deal and will benefit the Pakistani energy sector.
PPL operates 15 producing fields across Pakistan and contributes over 20 per cent of the country’s total natural gas supplies. As of June 2020, PPL’s proven recoverable reserves were 1,793.5 billion cubic feet of natural gas, 13.3 million barrels of oil/ NGL/ condensate and 543.1 thousand tonnes of LPG.
Muzammil Aslam, chief executive of Tangent Capital Advisors, said Pakistan energy companies settling into Abu Dhabi offshore drilling will give life to depressed exploration and production companies.
“This will be at very crucial stage when Pakistan is rapidly becoming energy starving country led by depleting energy resources and higher economic growth,” Aslam told Khaleej Times.
Moreover, he said the opportunity will also create synergies for Pakistan energy companies through deploying their excess cash and growth opportunities. “Importantly, working with Adnoc will help Pakistan exploration companies develop offshore drilling expertise, which has vast potential in Pakistan also,” he said. Courtesy : Khaleej News
Octopus Digital, an AVANCEON subsidiary company, helps businesses digitalize their manufacturing, supply chain and financial workflows backed by strategic and operational maintenance support services in the US, Middle East and South Asia. Thus, making decision support, actionable insights and business intelligence available 24x7x365 both as managed and unmanaged service on a multi-year monthly subscription basis.
The Next Generation of Business Intelligence isn’t siloed in systems or dependent on fancy dashboards Instead, insights appear instantly, making it easier to see change and take action.
Decision Support: Receive automatic alerts for your most important KPIs and keep your eye on the big picture
Digital Twinning: Topware™ creates a digital twin of every asset and entire process to connect, analyze and optimize.
Automate Reporting: Measure productivity by exporting and emailing reports to stakeholders
Consulting 4.0: Schedule periodical sessions with process experts and data scientists to deep-dive into a single version of truth
HOW WE DO IT
Connect And Analyze Data For Your Decision Support
Simplify Complexity: Topware™ compiles data from multiple sources in an enterprise to create Single Version of Truth
Deploy & Adapt Quickly: Topware™ becomes operational in 07 days followed by a 30-minute user Orientation & Training
Drive Impact: Topware™ aligns teams, their business objectives and key results on real-time basis
Air Link Communication Limited, founded in 2011, is a leading distributor of mobile phones having a strong presence in Pakistan with service centers across the country. Air Link is an “importer cum distributor” of Huawei, Samsung mobile phones & accessories in Pakistan having around 20-25% market share of total mobile business according to Customs Import Data. The Company is the official partner of Samsung Mobiles and Tablets in the territory of Pakistan & Afghanistan. It was also awarded “Platinum National Distributor” and “Sustainable Channel Growth Partner” by Huawei. The Company has a country wide distribution network consisting 16 regional hubs linked to 1,000+ wholesalers and 4,000+ retailers for ultimate selling of mobile phones and accessories across Pakistan.
OUR VISION
“To be the largest and most reliable distribution network in Pakistan”
OUR MISSION
“To establish strong network in Pakistan by providing state of the art services to customers.”
Air Link Communication Ltd, a cell phone distributor in Pakistan, is all set to raise Rs6.43 billion as the two-day book-building of its Initial Public Offer (IPO) ended.
The company had put its 90 million shares up for sale at a floor price of Rs65. The initial share price was decided at Rs71.5. This is called strike price. The IPO was oversubscribed by 1.64 times – the company received a demand for 147.7 million shares against its 90 million offered. The top bidders will be entertained.
Air Link has been one of the top distributors of mobile phones in the country distributing iPhone, Huawei, Samsung and Xiaomi phones. Air Link has ventured into manufacturing recently – assembling TCL, ITel and Tecno cell phones in the country.
Dawaai is an innovative pharmacy-led healthcare group. Our mission is to provide integrated pharmacy services with Convenience and Quality. We are reinventing the concept of retail pharmacy by taking authentic medicines to patients’ door-step as quickly as possible.
How do we interact with our Customers?
Dawaai is a pharmacy with a difference. Only qualified pharmacists handle all our pharmaceutical products, including procurement, storage, and dispensing. These associates are available 09:00AM to 09:00PM (Monday to Saturday) and are a phone call away from all our valued customers.
How do we ensure Authenticity?
We only procure our medicines directly from manufacturers or their distributors. Most large pharmaceuticals are in direct contact with us at a senior management level. There is constant flow of relevant information and quality control mechanisms to ensure authenticity of our medicines.
Why are we convenient?
All your pharmaceutical needs are met at your doorstep by our trained riders, in safe and hygienic conditions. We maintain recommended temperature level and packaging material to prevent any damage while in storage or transit.
Your order will be delivered to you in a sealed package, which you may accept only if the seal is intact. Before accepting your medicines, you have full authority to return the order if the seal is tampered. To ensure authenticity of medicines provided by Dawaai, we will not be able to return/exchange medicines once sold and accepted by you. This is for your safety and to maintain quality standards.
Our Partners
Our trusted hospital and laboratory partners include:
Recent Comments