Latest news with #TPLProperties
Business Recorder
25-04-2025
- Business
- Business Recorder
Mysterious fire in Karachi's Korangi Creek extinguishes itself again
A mysterious fire that erupted in March near an oil refinery in Karachi's Korangi Creek area extinguished by itself again last night, TPL Properties shared this in a notice to the Pakistan Stock Exchange (PSX) on Friday. The blaze flared up on March 29 during drilling. 'In continuation of our previous updates regarding the fire incident at Korangi Creek, TPL is pleased to confirm that the fire that broke out at Korangi Creek on the evening of March 28, 2025, once again extinguished naturally late last night,' the notice read. This marks the second time within the past 10 days that the fire extinguished on its own. 'This appears to be in line with the projected 2–3 week timeline shared by industry experts and as per TPL's own internal assessment.' The fire extinguished by itself on April 15, but the authorities later reignited it to 'prevent gas leak hazards'. 'The fire extinguished itself last night [April 15] but the gas was still leaking, which could cause health and safety hazards to the people in nearby areas,' Rescue 1122 spokesperson Hassaan Khan told Business Recorder then. 'After examination, authorities decided to reignite the fire in a controlled manner,' he added. TPL's Friday notice further said that following the formation of a technical committee on April 8, 2025 by the Ministry of Energy (Petroleum Division), the American firm Cudd Well was engaged by the committee to provide technical evaluation and advise on containment strategies. 'The fire's decline in intensity and eventual extinguishment is primarily attributed to it being a small pocket of gas. 'Nonetheless, the expert committee and TPL continue to monitor the area closely for any signs of residual gas leakage. The next course of action will be determined in alignment with the ongoing evaluations by the Government-appointed technical committee,' the notice read.
Express Tribune
04-04-2025
- Business
- Express Tribune
Company digging for water finds gas
It was like striking gold when a company prospecting for freshwater spuded a gas reserve. TPL Properties has reported the discovery of a gas pocket while drilling a test well for water exploration in Korangi Creek. FIn a notice submitted to the Pakistan Stock Exchange (PSX), the company stated that preliminary technical assessments, along with independent evaluations from industry experts, suggest the gas is likely low biogenic methanenaturally produced through the decomposition of organic matter. As the location is not part of a recognized natural gas reservoir, the company noted that the gas pocket is expected to dissipate naturally over time if the fire is allowed to burn. The discovery was made as part of a series of extensive studies conducted in collaboration with leading national and international consulting firms. These studies included geotechnical analyses, soil structure and contamination assessments, electrical resistivity (ER) surveys, a comprehensive Environmental and Social Impact Assessment (ESIA), and other baseline evaluations. Following the incident on the night of Friday, March 28, 2025, TPL Properties has taken all necessary measures to manage the situation and has informed the relevant stakeholders accordingly. Large reserves in Korangi Creek Earlier a geologist talking to The Express Tribune had expressed the possibility of large underground gas reserves in the Korangi Creek area, urging the need to extinguish the fire that has been burning for five days and initiate gas exploration activities at the site. Associate Professor at the University of Karachi's Department of Geology, Dr Adnan Khan, told The Express Tribune that 56-year data from wells drilled in the Indus Delta region for oil and gas exploration, points to the potential presence of methane gas at the site where water boring led to gas emission and the outbreak of fire. He added that there is also a possibility of coal deposits at the site.
Express Tribune
03-04-2025
- Business
- Express Tribune
Gas pocket found in Karachi during test well drilling
A raging fire near Korangi Crossing sends flames soaring into the sky, leaving authorities scrambling to determine the cause. PHOTO: Jalal Qureshi /EXPRESS Listen to article A gas pocket has been found during the excavation of a test well in Karachi's Korangi Creek area, Express News reported. TPL Properties, a real estate developer, announced the discovery and confirmed the development in a notice issued to the Pakistan Stock Exchange (PSX) on Thursday. According to the notice, the initial technical assessments, along with independent views from industry experts, suggest that the gas may be biogenic methane, a gas typically formed from the decomposition of organic matter. The company clarified that this discovery is not part of any known natural gas reserves in the region. TPL Properties also noted that, given the nature of the area, it is likely that the gas pocket will naturally dissipate over time, especially if it is left to burn. The company further stated that the test is part of an extensive study conducted with the cooperation of renowned national and international consulting firms. The study includes geotechnical assessments, soil composition and contamination tests, electrical resistivity surveys (ER), a comprehensive environmental and social impact assessment (ESIA), and other baseline studies. A Chinese study, published in 2020, also identified the presence of gas and coal reserves in the Korangi Creek area, revealing that the area has three layers of rocks where gas reserves can be found. These rocks, known as Myosin, are 20-25 million-years-old and contain underground sweet water reserves and gas deposits. Beneath the Myosin rock layer, lie the Paleocene and Eocene rocks. The older the rocks, the more hydrocarbon reserves they contain. Drilling data from Korangi Creek and the Indus Delta revealed a high percentage of Total Organic Material (TOC), ranging from 3 to 3.5%, with a kerogen type III, indicating the promising possibility of methane gas reserves and coal seams. A Chinese research group's four-year study on the Indus Delta found that oil and gas exploration activities near Karachi's coast were unsuccessful due to the absence of structural traps, which are rocks that prevent hydrocarbons from rising. The announcement comes after a massive fire erupted early Saturday morning near an oil refinery in Karachi's Korangi area, which has now been raging for over five days. The incident, which occurred late on the night of March 28 prompted TPL Properties to take immediate steps to manage the situation. The company assured stakeholders that all necessary measures have been taken, and relevant parties have been informed.
