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Jura and partner enter into agreement with the government of Pakistan for refurbishment of power station
(JEC) TSX CALGARY, Jan. 22 /CNW/ - Jura Energy Corporation ("Jura" or the "Company") is pleased t...
About this update from Jura Energy Corporation
[{"type":"text","content":"\n\n\n\n(JEC) TSX\n\n\nCALGARY, Jan. 22 /CNW/ - Jura Energy Corporation ("Jura" or the\n"Company") is pleased to announce that on the 16th January 2007 the Government\nof Pakistan, Ministry of Water and Power, (Private Power & Infrastructure\nBoard) ("PPIB") issued a formal Letter of Interest ("LOI") to the Kandra Power\nCompany Ltd. ("KPC") for a 120 Megawatt ("MW") Combined Cycle Power Facility\nlocated at Sukkur in the Northern Sindh Province of Pakistan.\n\n\nUnder the terms of the LOI the KPC, which is owned jointly by Pakistan\nPetroleum (Pvt) Ltd. ("PEL") (50%) and Jura (50%), will be responsible for the\npreparation of a detailed engineering study leading to the refurbishment of\nthe existing Sukkur Power Station to include the installation of new\nco-generation turbines and associated infrastructure.\n\n\nThe KPC has posted a performance guarantee of US$1,000 per MW. The\nperformance guarantee will be held by the PPIB against completion of the\ndetailed engineering study by the KPC, which Jura expects will be commissioned\nshortly and which is required to be completed within a period of nine months.\nThe study shall include an environmental impact assessment, power house\ndesign, load flow and stability factors, transmission lines and associated\ninfrastructure, together with costs, economics, financing and tariff\ncalculations.\n\n\nUnder a Field Development Plan that had been previously approved by the\nGovernment of Pakistan, Ministry of Petroleum & Natural Resources, the power\nstation will be fuelled by low-btu gas supplied from the Kandra Field, blended\nwith pipeline quality gas to be purchased from the Sui Southern Gas Company\nLimited ("SSGCL"). The gas from the Kandra Field will provide over 50% of the\nheating value required to operate the facility. SSGCL has committed to the\nsupply of 5 MMcf/d of pipeline quality gas, sufficient to power a 60MW\nfacility. A request for the supply of an additional 5MMcf/d is pending. In the\nevent that additional grid gas is not immediately available, then the facility\nwill be refurbished in two phases of 60MW.\n\n\nJura holds a 37.5% participating interest in the Kandra Field Development\nthrough its wholly owned subsidiary, Frontier Holdings Limited; other\nparticipants are PEL (37.5%)...