SANGHAR, June 11: The Oil and Gas Development Company has upgraded the Bobi oilfield to the status of an oil complex and will install necessary facilities of LPG extraction plant.

This was announced by OGDC general manager Rizwan Ashraf during the ground breaking ceremony arranged at the Bobi oilfield on Monday.

The Bobi oil complex is expected to be completed by December 2002 and produce 3,000 barrels condensate gas and 150 tons of LPG daily after its completion.

The project is expected to generate revenue of Rs1639 million annually thus affecting a saving of $25.27 million per annum foreign exchange.

The Bobi oilfield, located at 25 kilometres south of Sanghar, was discovered in 1989. The OGDC has drilled six wells, out of which five are producing ones.

The company further announced that besides the installation of surface gathering facilities, oil and gas separation facilities, condensate stabilization unit and installation of gas recycling system was included in the development scheme.

Small satellite fields of Dam Rakhi and Chak Dim will also be connected to the Bobi oil complex by installing surface gathering facilities.

The cost of the project would be Rs1495.30 million, including foreign exchange component of Rs1179.90 million.

The OGDC arranged Rs855 million through its own resources while Rs640 million had been arranged through the Asian Development Bank loan.

The engineering works and design of site utilities and civil works have already been completed. The mechanical contractor has started mobilization at the site after issuance of letter of intent to the company.

Meanwhile, on behalf of the OGDC, District Nazim Roshan Din Junejo distributed free sewing machines among poor, widows and orphans on Monday.

Speaking on the occasion, the Nazim demanded to provide jobs to local youths. OGDC GM promised that priority would be given to locals in the jobs.