Oracle Power PLC CNCDC Commences Coal Gasification Pre-Feasibility (7729L)
15 January 2021 - 6:00PM
UK Regulatory
TIDMORCP
RNS Number : 7729L
Oracle Power PLC
15 January 2021
15 January 2021
Oracle Power PLC
("Oracle", the "Company" or the "Group")
China National Coal Development Company Commences Coal
Gasification Pre- Feasibility Work
Oracle Power PLC (AIM:ORCP), the international natural resources
and power project developer, is pleased to advise that the
Company's Consortium Partner, China National Coal Development
Company ("CNCDC" or "China Coal"), has commenced preliminary
feasibility work relating to the potential gasification of coal at
the Company's Thar Block VI Project in Pakistan.
In light of the Government of Pakistan's recent public
declarations of its support for developing the country's indigenous
coal reserves, prioritising and initiating the development of coal
to gas and coal to liquid projects, CNCDC has commenced preliminary
feasibility work to advance this important aspect of the Company's
holistic development initiative at Thar Block VI. CNCDC is guiding
the feasibility study workstreams, which includes market analyses,
type of product and scale, process technology evaluation, public
engineering of auxiliary facilities required, investment estimation
and financial evaluations. In addition, Oracle, in conjunction with
CNCDC, is preparing coal-to-gas and coal-to-liquid policy
requirements to be proposed to the Government of Pakistan with the
intent that the optimal regulatory framework and government policy
is established.
Naheed Memon, CEO of Oracle, commented:
"Drawing on the extensive experience of China Coal as a world
leader in coal development and integrated industries, we at Oracle
are positioning ourselves to become a first mover in the
development of coal-to-gas for urea, coal-to-liquids and for other
applications in Pakistan. Alongside the development of our proposed
mine mouth power plant, coal-to-gas and coal-to-liquids are
expected to play an extremely important role in the growth of our
company and we expect this work by CNCDC to establish the viability
of, and a development model for, coal gasification at Thar Block
VI. We are encouraged to see that the Government of Pakistan has
endorsed the requirement for conversion of Thar coal to gas in view
of the acute natural gas shortage in Pakistan, which can lead to
food security problems, in this predominantly agro based economy.
Further, the government has also demonstrated an appetite for the
possibility of using syngas as a replacement for RNLG or natural
gas in an appropriate form. We intend to work very closely with
CNCDC, the Government of Pakistan and the Government of Sindh to
expedite this dimension of our development."
*ENDS*
For further information:
Oracle Power PLC +44 (0) 203 580
Naheed Memon 4314
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
Rory Murphy, James Harris, Jack Botros 3494
Brandon Hill Capital Limited (Joint Broker) +44 (0) 203 463
Oliver Stansfield 5000
Shard Capital (Joint Broker)
Damon Heath
Isabella Pierre
St Brides Partners Limited (Financial +44 (0) 20 7186
PR) 9952
Susie Geliher +44 (0) 20 7236
Catherine Leftley 1177
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