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Table of ContentsACKNOWLEDGEMENT ....................................................................................... 2
EXECUTIVE SUMMARY ....................................................................................... 3
Roles, Responsibilities and Authority of Project Manager .............................. 5
INTRODUCTION ................................................................................................. 7BACKGROUND PROBLEM ANALYSIS .................................................................. 8
PROJECT DELIVERABLES ................................................................................ 8
ORGANIZATION HIERARCHY CHART ................................................................ 10
PROJECT PRIORITY MATRIX ............................................................................. 11
MARKET ANAYSIS ............................................................................................ 11
Market Demand ........................................................................................... 12
Market Supply ............................................................................................. 13
Industry Growth ........................................................................................... 13
PROJECT PLAN (METHODOLOGY) .................................................................... 14
PROJECT SELECTION: .................................................................................. 15
PROJECT EXECUTION PLAN: ......................................................................... 15
WORK BRAEK DOWN STRUCTURE (WBS) ..................................................... 15
Selection of the Location ............................................................................. 15
Selection of the Land .................................................................................. 15
Purchasing Of the Land ............................................................................... 15
ACQUIRING OF THE LICENSE & NOC ............................................................ 16
Fulfilling the Required Criteria ..................................................................... 16
GETTING THE NOCS ..................................................................................... 16
MATERIAL INPUTS ........................................................................................ 17
Electricity: ................................................................................................... 17
Budgeting .................................................................................................... 17
Loan And Equity Ratio ................................................................................. 17
Contacting With Different Banks ................................................................. 17
Loan from the Bank ..................................................................................... 17
CONSTRUCTION AT SITE ........................................................................... 17
Hiring the Contractor ................................................................................ 17
PURCHASING THE RAW MATERIAL ............................................................... 17
Start of the construction .............................................................................. 18
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Building ..................................................................................................... 18
Stores & Spares ........................................................................................... 18
Office Equipment ......................................................................................... 18
Hiring of The employees .............................................................................. 18
Duties of the Labor ...................................................................................... 19
Marketing the Fuel station ............................................................................. 20
Printing The Brushers .................................................................................. 20
Distributing the brushers ............................................................................ 20
Activities with duration and predecessors: .................................................. 20
Project Monitoring .......................................................................................... 21
Follow up the licensing process ................................................................... 21
Following the construction and erection phase ........................................... 22
Project Valuation ............................................................................................ 22
Project profitability analysis ........................................................................ 28
Conclusion:..................................................................................................... 29
References ..................................................................................................... 30
ACKNOWLEDGEMENT
Thanks to almighty Allah for enabling me to fulfill all the requirements for the
completion of this report.
It would not be a justice in presenting this report without mentioning the people around
me who have been inextricably related with the completion of this report. For assisting
me in all respect and regards to complete this report my heart felt thanks to my course
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coordinator Mr. Fayyaz-ur-Rehman, who enriched my knowledge with wealth led ideas
to pursue and power of writing this report. It could not have been possible to accomplish
this report without her thoughtful guidance and expertise.
It is also a great pleasure to record honorable regards to all those who helped me lot in
learning and enhancing my knowledge and ability during this report especially to Mr.
Tahir Hassan (Manager, Shell, Murree Road Rawalpindi ), helped me a lot for this project
report.
EXECUTIVE SUMMARY
Today the most profitable and for the safe investment the business which is to be
considered in Pakistan is the fuel station. This is considered it as most economic
viable business and gives good return to the investors. Though the period of
investment in the start is longer which consist of about 9 to 11 months But the
most important point is the this business has no any kind of risk but only the
certain criteria has to fulfilled while running the business that is to keep the health
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and environment safe and should follow the safety measures and there is no threats
from the environment and as well to the environment.
The area which we have selected is the most suitable area for the business outside
the populated area, the first and for most requirements forfuel stations. During theproject various people helped me to go through the whole process of fuel station.
Total overall project cost is approximately about the Rs. 39.755. The total cost is
composed of Rs.38.609 Million of capital cost, and Rs.1.146 Million of working capital
cost. The entire process flow is suggested to be semiautomatic requiring mainly unskilled
workers. Though it seems a huge cost at the start but the return of the project is for
the longer period and the entire project is done with proper planning and guideline
and all the criteria try to fulfill before the start of the object like license from theministry of petroleum and gas. And then the NOCs are followed. Throughout the
project it is monitored well and all activities shown in this project is properly
sequenced according to the project.
Project Manager
We the
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Roles, Responsibilities and Authority of Project
ManagerThe Client (Shell fuelling Station) has assigned the following responsibilities to the
Project Director:
a) Arrange Funds for the project.
b) Monitor progress and quality of the project.c) Coordinate in between the Contractor and Consultants
The Project Director counter-signed the running bills of the Contractor which has beenChecked/ verified by the Consultants.
Team Members, their roles and Responsibilities
Project Engineering Manager
In charge of co-ordination of all engineering disciplines (structural / piping /process / instrumentation / electrical / mechanical / safety / installation)
In charge of managing the engineering budget
Project Procurement Manager
In charge of buying Equipment / Bulk In charge of purchase order and follow-up of the purchase
Include Quality Control / Quality Assurance / Inspection services
Link Engineering / Procurement:
For each discipline the purpose of the engineering is to deliver to theprocurement:
o A Specification
o A Requisition
Based on these documents, consultation process can begin within procurement
Engineering team to advise the appropriate supplier based on technical criteria
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Project
manager
Project
Construction
Manager
Project
Engineering
Manager
Project
Control
Manger
Project
Procurement
Manager
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Project Control Manager
In charge of the planning
In charge of the progress In charge of the cost control (with respect to the Client and with respect to each
discipline leader)
Team roster
Name & TitlePhone & Fax
NumbersE-Mail Address
Location/ Maildrop
M. Naveed Zafar 0334-5521520 [email protected] ISB
Mujeeb A. Khan 0345-5505849 [email protected] ISB
Nauman Ahmed 0345-5205518 [email protected] ISB
Signed and Approved by Team Members: Project Director:
------------- --------------- -------------- -----------------
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INTRODUCTION
The proposed project is about petrol and diesel fuelling station, inclusive of car wash and tire
shop facility. The Fuelling station will work as a retail outlet for Shell Oil Company in Returnthe owner will get the profit share on each liter of fuel he sales.
Transport is one of the most essential sectors of an economy and direct customer for this project.
This sector facilitates the peoples not only in traveling but also in the transportation of goods and
services throughout the country. The population of Pakistan is growing with the rate of around
2.0 percent per annum which shows an increase of 3.2 Million people each year. In order to
facilitate the growing population not only the number of motor vehicle is increasing (5.287 to
5.366 Million in years 2007, 2008 respectively) which has increased the demand for petroleum
products throughout the country. Not only transport sector, but Industrial, agriculture and other
sectors of the economy are also growing with a greater pace hence further strengthening thedemand for petroleum and lubricant products.
According to the GoP statistics the petroleum products and gas consumption accounts for
approximately 70 percent of modern energy supply in Pakistan. Electricity (15 percent), LPG and
coal account for the balance. The transport sector (the direct customer for this project) is the
largest user of petroleum products (59 percent), followed by power (29 percent); industry
accounts for about 12 percent, and the balance is used in other sectors including the residential
sector.
Fuel STATION
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ORGANIZATION HIERARCHY CHART
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Owner
Manager
Supervisor
Mechanics
Technician
Electrician
Staff
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PROJECT PRIORITY MATRIX
TIME PERFORMANCE COST
CONSTRNT
ENHANCE
ACCEPT
Explanation:
The project we choose is the construction of the Fuel Station. The above matrix shows thatperformance is on top most priority because top priority is to fill fuel in minimum time at
maximum so thats why our performance is high.
MARKET ANAYSIS
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The market for petroleum products is highly concentrated. The PSO has got the major market
share of around 65% and the remaining portion of market is shared by other oil marketing
companies (OMCs) like Shell, Caltex, Attock Refineries, Total Parco and Admore. The market
shares are listed in the table below:
.Target Customers
Sectors % Consumption
Transportation 55
Power 29
Industrial 12
Govt. 2
Agriculture 1
Domestic 1
Market Demand
The petroleum products account for approximately 40 percent of modern energy
consumption in Pakistan. Consumption of petroleum products grew sharply during the 1980s at
about 7 percent per annum, but slowed to about 2.5 percent during late 1990s and has gained a
momentum in 2004-05 to about 9.31%.
Table 3: CURRENT/PROJECTED DEMAND OF PETROLEUM PRODUCTS
(In million tones)
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2003-2004 2004-05 2010-11 2017-18
Demand of
Petroleum
Products
14.3 5 15.5 17.0 19.0
Demand ofPetroleum
Products
10.3 12.0 11.3 11.8
Surplus
Naphtha
/ Motor gasoline
available for
exports
1.3 1.5 0.8 0.8
Deficit of HSD
and FO
5.3 5.0 8.0 8.0
Source: Ministry of Petroleum & Natural Resources
The demand is expected to increase around 17 million tones per annum by the year 2010-
11.Thereafter, it is expected to further increase to around 19 million tones by the year 2017-18.
The production of refined products by the local refineries during the year 2003-04 was 10.27
million tons. The deficit products import were 5 million tons in 2003-04 while it will remain
around 5-6million tons per annum up to year 2010-11. Thereafter, it is expected to increase to a
level of around 8.0 million tons per annum by the year 2017-18.
Market Supply
Keeping in view such a rapidly growing market demand for petroleum products over the past few
years one can not deny the need of fuel fuelling stations. According to the statistics only 18% ofthe oil demand is satisfied from the local sources, rest is imported in the form of either crude oil
or finished products from Middle East exporters (Saudi Arab playing the lead role). Different
OMCs are expanding their retail outlets network to satisfy the demand and capture a maximummarket share.
Industry Growth
There has been a tremendous growth in the transportation sector as well as the oil fuelling station
or retail outlets over the past years. According to the table , in 1998 there were 4.303 Million
registered vehicles, which rose up to 5.366Million during the year 2007 that shows a growth of
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around 1.1 Million vehicles. There are around 5500 or more petrol pumps (fuelling stations)
operating throughout the country. Due to the growing demand of petroleum products new oil
marketing companies are commencing their operations.
The table given below represents the steadily growing trend of transportation sector over the last
decade.
YEAR Motor
Cars
jeeps &
wagons
Motor
Cabs
Buses Trucks Motor
cycles
Rickshaws Others Total
In
Millions
1998 1.085 0.083 0.125 0.132 2.068 0.081 0.729 4.303
1999 1.162 0.083 0.150 0.1.45 2.175 0.095 0.746 4.559
2000 1.182 0.083 0.154 0.1.48 2.260 0.099 0.772 4.701
2001 1.198 0.090 0.161 0.1.55 2.283 0.010 0.786 4.784
2002 1.205 0.090 0.162 0.1.64 2.382 0.119 0.822 4.947
2003 1.272 0.090 0.162 0.1.75 2.422 0.120 0.833 5.077
2004 1.285 0.091 0.162 0.1.78 2.444 0.122 0.846 5.132
2005 1.307 0.092 0.165 0.1.81 2.481 0.124 0.858 5.209
2006 1.344 0.095 0.170 0.1.84 2.556 0.128 0.871 5.287
2007 1.344 0.095 0.170 0.1.87 2.556 0.128 0.884 5.366
PROJECT PLAN (METHODOLOGY)Project plan methodology includes the all phases including in the project plan. The some of the
basic component involve in this phase are:
Project selection
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Project execution
Project monitoring
Project evaluation
Cost and productivity techniques
PROJECT SELECTION:
We have already discuss the project selection tools and why we choose this business/project and
We have discussed the risk analysis, geographical analysis, and social analysis in the background
of the project problem analysis
PROJECT EXECUTION PLAN:
Project execution plan includes the following steps in the project of the Fuel station
WORK BRAEK DOWN STRUCTURE (WBS)
Initiation of the project
Initiation of the project will be with the following steps
Selection of the Location
The location which we selected for our Fueling station is Sensa chock of (Badli) after the Sensa
and the main reason of it is that the vehicles coming from the Rawalpindi and from Plandri side.
Selection of the Land
The land which we have selected near the Sensa is about 3 kinals and the front is about to 250 ft.
Contracting With the Property Dealer
After words a property dealer will the hired for the purchasing of the land. For this purpose the
property dealers in the KOTLI and SENSA will be consulted.
Purchasing Of the Land
Then the land will be purchased, the estimated cost of that land we selected is about
30,000,000.
Make financial Plan
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ACQUIRING OF THE LICENSE & NOC
With the purchase of the land the process for the acquiring of the license and various NOCs has
been started, the following steps are involved in this which are given below.
Contacting the govt. Agencies
For this the government agencies will be contacted in which oil and gas regulatory authority
is first ministry of the government which will be contacted and this ministry issues the license for
the Fuel station and the cost involve in this process is Rs. 25,000 which is the license fee.
Fulfilling the Required Criteria
Then all the criteria is fulfilled by the investor or the owner of the business to be established and
various documentation is required is there, which has to be provided on demand.
GETTING THE NOCSNOCs are taken from different ministries, which are as follow,
Concerned development authority of the city
Traffic Engineering and Planning Authority (TEPA)
Traffic Police (SSP)
Department of Civil Defense
Central Board of Revenue (CBR)
Civil Administration-
Irrigation Department
Forest Department
Explosives Department
These all NOCs are required before to set up the project and the total time required to cover up
all these NOCs is about to 2 to 3 months. The cost attached to this process involve is about Rs.
300,000. Now different agents are also involved in this process and people hire their services to
get all these NCOs which minimize their costs in such a way that they can save the time onfulfilling all the requirements and visiting the different offices. The cost involved in it is about to
Rs. 500,000. Which covers all the expenses and the business man can get all these NOCs and
documents (license) without any trouble.
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MATERIAL INPUTS
Electricity:
One of the main input required for the Fuel station is electricity to run the machinery and the
sponsor for the electricity is WAPDA and the Rs. 0.35 million is required for obtaining the
electricity connection and there is no security deposits are required for the electricity connection.
Budgeting
Budgeting involve the all terms of financing and this portion tells us about the how our project
will be budgeted and with what ratio.
Loan And Equity Ratio
The total equity ratio for this project will 60% and 40 % will be the debt ratio. Loan is must for
this type of the project because that the land which we are going to purchase is somehow costly
and the machinery involve in export for the station.
Contacting With Different Banks
Different banks are then consulted for the loan and different financial institutions for the services
they provide at what rate. who will provide you maximum time period for the return of that
money and whose interest of the loan is suitable to our project.
Loan from the Bank
After selecting the bank the loan is then approved by the bank from the higher management and
loan is handed over to the business man and the overall time span for this process is about to 1 to
2 months, but it should be according to the plan of the rest of the project.
CONSTRUCTION AT SITE
Construction at site will be started after contacting Shell Oil Company and the main construction includes
the building.
Hiring the Contractor
For the construction the contractor will be hired after the reasonable negotiations.
PURCHASING THE RAW MATERIAL
Then the required raw material will be purchased and the whole this process may require the 2 to 3 weeks.
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Start of the construction
Building
There are certain civil works required to be carried out at the proposed location. The civil Works
would be carried out on an area of 2250 square feet. The rest of the area will be floored with tuff
tiles. Civil work includes the following:
Office
Control Room
Shed for Dispensers
Toilet/washroom
Underground Piping and Power Cables
Flooring
Stores & Spares
The whole equipment required for setting up a Fuel filling station is imported. Therefore, it is
required to build an inventory of necessary spare parts to meet the unforeseen circumstances such
as breakdown or any other fault in any part or equipment. For this purpose, a stock of necessary
spare parts will be imported along with other equipment to maintain a minimum level of spare
parts.
Office Equipment
Some office equipment is also required for the proposed project. Provision of Rs.100,000 has
been made for acquiring the required office equipment.
Hiring of The employees
Along with this the hiring of employees will be started.
Hiring Of The Manager
First of all we will hire the manager which will help in day to day operations at site.
Hiring Of The Accountants
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Afterwards the hiring of an accountant is required which will help the business in financial and
accounting matters.
Hiring Of The Workers
Hiring of the workers is a difficult job , for which the banner will be printed and hang it on the
site.
Hiring Of The Skilled Workers
And at the same time the hiring of the skilled workers is also started in which the machine
operators are involved and one of the watchman from some good security agency.
Hiring Of The Un Skilled Workers
the people involve in the un skilled workers are sweepers and peons.
List of all the people which are to hired at the Fuel station are given below,
Human Resource Requirement
Designation No. of Employees for
two shifts
Manager 1
Accountant 1
Cashier 1
Dispenser 4Watchmen 2
Sweeper 2
Total 11
Duties of the Labor
1. Fuelling the vehicles.
2. Selling the lubricants.3. Counting and accepting the cash
4. Operating the machinery
5. Cash Management.6. Book Keeping
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Marketing the Fuel station
Printing The Brushers
The brushers will be printed at this stage for the awareness of the people and with the permission
of the NHA they will be placed on road side. Along this these brushers will be placed on all rest
areas and this is only the one time activity that will cost some money and afterwards people will
have know how about it who are regular
Distributing the brushers
After placing the brushers it will be ensure and make it easy to distribute to all vehicles traveling
on the route.
Activities with duration and predecessors:
Activities Description Predecessor Duration (days)
A Selection of the location 2
B Make organizational and financial plan 2
C Selection of the land A 1
D Make financial arrangements B 10
E Contracting with the property dealer C 2
F Purchasing of the land D,E 5
G Designing B,F 13
H Contacting the govt. Agencies F,G 16
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I Fulfilling the required criteria H 8
J Getting the NOC's I 50
K Electricity connection J 30
L Hiring the contractor J 15
M Purchasing the raw material L,G,J 6
N Start of the construction M,L 5
O Hiring of the manager N 15
P Hiring of the accountants N 15
Q Hiring of the workers N 15
S completion of construction J,L,M, 180
T Installation S 15
U Pilot testing K,S,T, 5
V Printing the brushers. U 5
W Distributing the brushers. V 15
X Training N,O,P,Q, 30
Y Inaugral W,X 1
Project Monitoring
Follow up the licensing process
In the project monitoring the follow up the licensing and NOC process will be fully monitor and
will be followed up to the end.
Along with this the connections for the both electricity and natural gas will be followed only due
to the reason that weather there is any kind of hurdle or not. Because these two main part of the
project is out of the control and they may take time beyond the expectations.
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Following the construction and erection phase
Again the work which is totally under the control, it does not mean that leave it that it will
complete automatically within his own time, but it must be followed by with the full
requirements and time bounds here the technicalities are involved and full attention should be
paid to the project at this time and at this stage we came to know that how much of time we are
according to our schedule.
Project Valuation
Description Amount in (Rs.)
Land 37,500,000
Building & Infrastructure 611,200
Furniture & Fixtures 54,000
Office Equipment 33,500
Pre-operating costs 12,000
Company Joining Fee and Security 400,000
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Total Capital Cost 38,610,700
Working Capital
Raw Material Inventory 646,060
Cash 500,000
Total Working Capital 1,146,060
Total Project Cost 39,756,760
Operating Expenses
Designation No. of Employees for
two shifts
Salary per month Anually (Rs.)
Manager 1 12000 144,000
Accountant 1 8000 96,000
Cashier 1 6000 72,000
Dispenser 6 4500 324,000Watchmen 2 5000 120,000
Sweeper 1 2500 30,000
Total 13 65,500 786,000
Building Construction Cost
Description Cost/sq.ft Area in sq.ft Total Cost (Rs.)
Office Building 1,200 240 288,000
Car Wash 800 224 179,200
Tire Shop 1,200 120 144,000
Total 611,200
Office Equipment
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Description Qty Total Cost/Unit Amount (PKR)
Computer 1 12,000 12,000
Printer 1 7500 7500
Telephone 2 1000 2000
Fax machine(withPhone line) 1 12000 12000
Total 33,500
Furniture & Fixture
Description Total Amount (PKR)
Furniture 30,000
Air conditioners (1.5 Ton Window) 24,000
Total 54,000
Project Financing
Description Percentage Amount in Rs
Equity Financing 60% 23,852,131
Debt Financing 40% 15,903,129
Total 100% 39,755,260
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Project Returns
Description Equity Project
IRR 68% 56%
MIRR 43% 34%
Pay Back Period (Yrs) 3.05 3.22
Net Present Value (NPV) 232,816,329 306,244,247
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Depreciation on Assets
Accounting Profit
Depreciation on the assets has been charged at the following rates for the calculation of
accounting profits,Depreciation Rates
Building 5%
Equipment 10%
Office equipments 20%
Furniture &fixtures 10%
Tax Adjustments
Land
Building
0%
5%Equipment 10%
Office equipments 10%
Furniture &fixtures 10%
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Working Capital
Working capital is calculated on the basis of following assumptions:
Accounts Receivables
Mostly, the sale of Fuel is on cash basis. However, some Fuel stations do offer a credit facility to
reputable companies on agreed terms and conditions. Therefore, receivables are estimated at 6%
of the total sales amount.
Advances to Employees
Advances to employees are calculated on the basis of 30 days of both payroll and staff benefits.
Accrued Utilities and Power Expenses
Normally, it would take 20 days to deposit the utilities (electricity, water and telephone) bills.
Therefore, utility expenses for 20 days have been taken as the basis for working capital
computation.
Accounts Payable
Cost of electricity for 20 days has been considered in calculating accounts payable.
Sales Tax Payable
Every company is required to deposit the amount of sales tax collected from the consumers,
within 14 days. The same has been taken as the basis for calculating the amount of sales tax
payable.
Sales Tax
The sales tax levied by Government of Pakistan is charged to the customers at the rate of 15% on
the sale of gas. These funds are deposited after every 14 days in favor of Government of
Pakistan.
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Project profitability analysis
Pay back method
Payback period based on cash inflows is 4 years
Return on investment (ROI)
Internal rate of return (project) is 56%
Internal rate of return (equity) is 68%
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Conclusion:
This whole study tells us about the project or business that it is feasible or not. As we have
already discussed that this business has enormous advantages and it is a safe investment for a
batter return. The place which we have chosen is not a saturated and batter to opt for the
business.
This project though has a very large investment at the start but the return is safe and this project
or business is evergreen through out the year. One of the main advantages of this business is that
it has not at all the credit customers and it gives the batter and safe return of the investment as we
have already discusses it. The risk in this business is so minimum though the costly item of the
business is land but in Pakistan the property values has an increasing trends. When we talk about
the geographical analysis the area which we have chosen is the best to suit business and there is
no threat to my business as well. My business is totally safe toward the environment and there
are no hazards from the business operations.
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Petroleum Policy 2009
The Government of Pakistan (GOP) is committed to accelerate an exploration and development
programme in order to reverse the decline in crude oil production, to increase the domestic gas
production and supply and to reduce the burden of imported energy which otherwise will have
adverse effect on the balance of payments & trade.
The principal objectives of this Policy are:
1. To accelerate E&P activities in Pakistan with a view to achieve maximum self sufficiency in
energy by increasing oil and gas production.
2. To promote direct foreign investment in Pakistan by increasing the competitiveness of its
terms of investment in the upstream sector.
3. To promote the involvement of Pakistani oil and gas companies in the countrys upstream
investment opportunities.
4. To train the Pakistani professionals in E& P sector to international standards and create
favourable conditions for their retaining within the country.
5. To promote increased E&P activity in the onshore frontier areas by providing globally
competitive incentives.
6. To enable a more proactive management of resources through establishment of astrengthened Directorate General of Petroleum Concessions (DGPC) and providing the
necessary control andprocedures to enhance the effective management of Pakistans
petroleumreserves.
7. To undertake exploitation of oil and gas resources in a socially, economically and
environmentally sustainable and responsible manner.
References
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Mr.Tahir Hassan
Manager Shell ,
Murree Road Rawalpindi
Federal Bureau of Statistics
Pakistan Statistical Year Book 2007,Federal Bureau of Statistics
Energy Book,Hydrocarbon Development Institute of Pakistan
WEBSITES
www.ogra.org.pk
www.skilfull.com
http://www.ogra.org.pk/http://www.skilfull.com/http://www.ogra.org.pk/http://www.skilfull.com/