President of Canadian Frontier Holdings Nigel McCue has briefed Pakistan s Petroleum and Natural Resources Amanullah Jadoon about the joint venture investment plan of $ 200 million in oil and gas exploration and power sectors in Pakistan, according to an official statement. Nigel McCue informed the Minister that Frontier Holdings has entered into partnership with a Pakistani company Petroleum Exploration Limited (PEL) that has resulted in acquiring working interests in seven concessions held by the PEL. He said that the joint venture intends to set up a power plant of 60-120 MW at Sukkur in Pakistan s Sindh province based on the huge low BTU reserves of its Kandra gas field. Nigel McCue said the development of Kadra gas field resources of 3.4 trillion cubic feet will be main source of gas supply to the power facility. They also plan the drilling of development wells with a view to ensuring a sustained gas supply to power plant by investing $ 160 million, which is expected to be commissioned in 2009 involving further investment of $ 60 million. Jadoon appreciated the PEL s contribution for promoting the oil and gas exploration activities in Pakistan and invited the joint venture to avail the investment opportunities in the upcoming projects for the mutual advantage.
