Pakistan State Oil signs MoU on Bio-Diesel Cultivation

Date: June 6, 2012

Pakistan State Oil signs MoU on Bio-Diesel Cultivation

Pakistan State Oil (PSO), the nation’s leading Energy Company has signed a Memorandum of Understanding (MoU) with the Forest & Wildlife Department, Government of Balochistan for the establishment of a 5,000 acre bio-diesel agricultural estate located at Uthal, Balochistan. The signatories on this occasionwere Mr. Naeem Yayha Mir, MD & CEO-PSO and Mr. Ahmed Ali, Secretary- Forest & Wildlife Department, Government of Balochistan. Alsopresent here were Mr. Azam Deputy Secretary – Forest and Wildlife (GoB), Mr. Navaid Alam Zuberi, Senior General Manager (Projects)-PSO and Mr. Nawaid Anjum Zaidi, Head of New Business Development-PSO.

A pioneer in the oil sector, PSO is striving to identify and overcome the energy challenges facing our country. In this regard,PSO’s New Business Development department had previously established an agricultural estate at Pipri Marshalling Yard (PMY)to conduct a feasibility study regarding the cultivation of the Jathropa Curcas plant and extraction of bio-diesel from the seeds of the same. On successful completion of the plant life-cycle and extraction of bio-diesel, the company also carried out product testing by running company vehicles on this environment friendly fuel. With the signing of this MoU, PSO is moving forward, with its plans for introducing Jathropa cultivation on a commercial levelto set up a pilot project at Uthal, Balochistan as a first step towards mass-cultivation.

Speaking at the occasion, Mr. Naeem Y. Mir, MD-PSO stated that ‘The success of this project will provide multiple environmental and economical benefits for Balochistan and also provide career opportunities forthe people of the province.’ He also pledged “We will bring greenery to Balochistan and at the same time develop an alternate source of energy for the nation.” Separately, Mr. Ahmed Ali, Secretary- Forest and Wildlife Department (GoB) expressed the provincial government’s support for this plan and said “We commend the national energy company for having taken this step and are hopeful that projectwill result in further growth focused investment and economical progress in the region.”

This initiative is another first in a long line of achievements for PSO. Through this plantation the Company aims to producea renewable fuel source that will help bridge the energy gap of the country and reduce our dependence on foreign fuel imports. Dedicated to serving the energy needs of the nation, PSO is cognizant of its responsibilities and continues to stand by the country at all times.