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The Kandra Power Company was officially registered by the Security Exchange Commission of Pakistan (SECP) on 9th of May 2007 , with a Corporate Universal Identification Number (CUIN) 0060896.
The Kandra Power Company is a joint venture undertaking of Petroleum Exploration (Pvt) Limited (PEL) with frontier Holdings Limited (FHL) (a subsidiary of Jura Energy Corporation) for setting up the Kandra Power Project, estimated to cost approximately US$ 120 million (US Dollars One Hundred Twenty million).
Petroleum Exploration Private Limited (PEL), a 100% Pakistani company has six gas field development and production/mining leases; ten on-shore exploration licenses; three-shore exploration licenses/production sharing agreements, in Pakistan; and, three Overseas Petroleum Concessions in Morocco. At present PEL is supplying 35 Million Standard Cubic Feet Per Day (MMSCFD) of gas to the Sui Northern Gas Company Private Limited (SNGPL) from the gas fields were PEL is the Operator for development and production of gas.
Frontier Holdings Limited (FHL) is a wholly owned subsidiary of Jura Energy Corporation which is a publicly listed Canadian Company with over Cdn. $70 million in assets and is quoted on the Toronto Stock Exchange with its Head Office in Calgary and Branch Officer in Islamabad and Dubai, UAE. FHL has acquired 50 percent share in the low Btu Kandra gas field which will provide processed Kandra gas to the Kandra Power Plant.
The Kandra Power Company plans to reactivate and refurbish the WAPDA Sukkur Thermal Power Complex (STPC) in Sindh and upgrade it to generate 120 MW of electric power.
The proposed Combined Cycle Kandra Power Plant will be fueled by 40 MMSCFD (million standard cubic feet per day) of gas from the Kandra Gas field operated by Petroleum Exploration (Pvt) Limited (PEL).
The processed Kandra Gas will be raised to a calorific value of 300 Btu/scf and then blended with 10MMSCFD pipeline quality gas from Sui Southern Gas Company, Limited (SSGCL) to attain a Heating value of 430 BTU, which is suitable for power generation.
The Government of Pakistan, on the basis of the Economic Coordination Committee of the Cabinet (ECC) decision taken on 1st September 2005, has allocated 5 MMSCFD pipeline quality gas for blending with processed Kandra gas to generate 60 MW or electricity. Subsequently, in its meeting on 10th May 2007, the ECC decided that Low Btu gas fields (below 600 Btu/scf) would be entitled to allocation of pipeline gas provided that fifty percent of the heating value for power generation is provided by the Low Btu gas as fuel. Based on this policy guideline PEL is seeking an additional allocation of 5 MMSCFD pipeline quality gas, so that 120 MW power is generated using a blend of pipeline gas and processed Kandra gas, each providing fifty percent in heating values, for power generation.
The Kandra Gas Field owned and operated by PEL has an initial Gas in place (IGIP) in the proved plus probable category of 2.447 Trillion Cubic Feet (Tcf) of gas which is more than sufficient for the fuel requirements of proposed Kandra Power Plant for more than thirty (30) years.
The Kandra Power Company plans are to commission the combined Cycle 120MW Power plant in two phases of 60 MW each utilizing a new gas turbine (40 MW) and a new Heat Recovery Steam Generator (HRSG) along with a new Steam Turbine each of 20 MW (Total 60 M x 2 = 120 MW).
A letter of interest (LOI) has been issued to PEL as the “Main Sponsor” of Kandra Power Project, by the Private Power and Infrastructure Board (PPIB), Ministry of Water and Power on 16th of January 2008.
A Feasibility study will be conducted for submission to the Private Power and Infrastructure Board (PPIB) before undertaking EPC (Engineering, Procurement & Construction) activities, to the Power Plant in a period of about three years.
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