Latest news with #PDO
Business Recorder
an hour ago
- Business
- Business Recorder
NTDC's split into new entities: World Bank seeks amendments to project agreements
ISLAMABAD: The World Bank has called for amendments to existing project agreements to replace the name of the National Transmission and Despatch Company (NTDC) with the three newly-created successor entities. In a letter addressed to the Secretary of the Economic Affairs Division (EAD), the World Bank's Operations Manager for Pakistan, Gailius J. Draugelis, rated the overall implementation progress of the National Transmission Modernization I Project as 'Moderately Satisfactory.' A Bank implementation support mission visited Pakistan from June 16 to 26, 2025, to review the project's status. According to the Bank, most components—excluding the Islamabad West Substation (IWS)—are progressing well and are expected to be completed by the end of 2025. $400m investment in reactive power compensation: 10-year transmission plan discussed with World Bank The IWS contract, a critical part of the project, is now slated for completion in November 2026. Total disbursements under the project stood at $183 million as of June 30, 2025, with improvement needed in FY26. Progress toward achieving the Project Development Objective (PDO) also remains 'Moderately Satisfactory.' The mission outlined several key findings and actions requiring close attention from the Ministry of Energy (Power Division) and NTDC's senior management. The World Bank noted that NTDC was recently restructured into three entities: Independent System Market Operator, the National Grid Company of Pakistan, and the Energy Infrastructure and Development Management Company. As legal agreements are currently signed with NTDC, the government—via the EAD—must formally notify the Bank and request amendments to the legal documentation to reflect this change. The IWS contract was the last major component to be awarded. To accommodate its completion, the project's closing date has been extended to December 31, 2026, aligning with the contractor's 30-month schedule. During the mission, the Bank emphasized that NTDC and the contractor must ensure completion and handover by the revised deadline. Given the project is in its eighth year of implementation, securing another extension beyond 2026 is considered highly unlikely. The Bank clarified that the deadline extension applies solely to the IWS contract. All other sub-projects were already in advanced stages and expected to be completed during FY2024–25. However, several activities are progressing more slowly than anticipated. The mission and NTDC agreed that all other contracts must be completed by December 31, 2025. To support timely implementation, the Bank emphasized the importance of regular coordination among contractors, consultants, NTDC field teams, and the Project Management Unit (PMU). These interactions would help identify and resolve issues, including contract amendments for time extensions and scope changes. Notably, such interactions have been limited to Bank missions. The PMU has now agreed to hold monthly review meetings starting July 15, 2025, and will maintain full staffing until project closure. Regarding contract change order management, the Bank acknowledged that NTDC has resolved the issue of contractors operating without valid agreements. However, some recently extended contracts are again nearing expiry before work is completed. A similar issue is affecting five contracts under the Enterprise Resource Planning (ERP) component. NTDC has assured the Bank that all necessary contract extensions will be finalized by mid-July 2025, and that no further work will be done without valid contracts. The mission noted steady progress in the ERP system implementation, aimed at modernizing NTDC's operations. Several modules are scheduled to go live within the next two months, with full rollout expected by December 2025. To ensure successful adoption, the Bank urged NTDC to improve communication with staff regarding system benefits, impacts, and rollout timelines. NTDC has agreed to update employees regularly through emails and other media. Addressing the right-of-way issue on the 500kV Nowshera transmission line, the Bank stated that construction had been delayed for over a year due to denial of access to tower location No. 23. While NTDC has secured verbal consent from the landowner with help from the district administration, the Bank has advised obtaining written consent and a formal agreement to prevent future disputes. NTDC is also required to finalize all related documentation and payments before resuming construction. Regarding compensation payments for IWS, NTDC had previously committed to clearing all outstanding payments by May 31, 2025, but some remain pending. These involve small amounts that affected persons are reluctant to collect due to the cost or effort involved. Following government practices, the Bank has advised NTDC to consider alternatives such as mailing cheques or depositing funds with the Deputy Commissioner's office for disbursement. NTDC has now committed to completing these payments by August 15, 2025. Finally, the World Bank commended both the Government of Pakistan and NTDC for efforts to resolve security challenges that had disrupted project activities in Balochistan. The mission was informed that the contractor for the Loralai and Sibi substations had received necessary security assurances and resumed construction at the sites on June 23, 2025. Copyright Business Recorder, 2025
Time of India
5 hours ago
- General
- Time of India
How villagers next to industrial township in Karnataka got together to restore 10th-century hero stones
Bengaluru: A community cleanliness drive to retrieve the buried, defaced, and mutilated hero stones and stone inscriptions at a small village near Tumakuru in Sept 2022 has now paved the way for a mega campaign across the district to retrieve hundreds of such neglected monuments belonging to ancient and medieval eras. Tired of too many ads? go ad free now The district administration has now sought state govt's permission to prepare an action plan to preserve these ancient monuments in close to 1,000 schools across Tumakuru district. While this heritage revival is gaining momentum, the cleanliness drive at Hiregundagal village by a panchayat development officer (PDO) has resulted in the setting up of the fourth heritage monument park around Bengaluru. This park features 13 unique hero stones (Veeragallu) dating back to various periods between the 10th and 12th centuries, offering a sneak peek into the contributions of Ganga and Rashtrakoota rulers. Located just a few kilometres from Vasanthanarasapura industrial township, where multinational companies are setting up base, the villagers had almost forgotten that their settlement once witnessed a fierce battle between the Gangas and Rashtrakootas, resulting in the latter's supremacy over the region. "All hero stones that had key details of the battle and other events of that era were lost. When we saw a few of the remaining pieces, we took up a drive under Swachata hi Seva (SHS) in Sept 2022. Subsequently, out of 18 recorded hero stones, about 13 were retrieved in full length, and the rest have either been damaged to make roads or other works," explained Jyothi, PDO of Chikkathotlukere gram panchayat. But the real challenge is in safeguarding these monuments for future. "Finding land and sourcing funds to develop a heritage park was an uphill task then. But our taluk officers and CEOs of Tumakuru zilla panchayat took this up and granted funds for the project. Tired of too many ads? go ad free now The tahsildar also helped in securing two guntas of Kharab land required for the park. Due to the administrative support, the monument park is now ready at a cost of Rs 13 lakh," she added. In the meantime, the villagers, assisted by heritage and history activists, also contributed to the setting up of the park and adding additional monuments that they spotted in the nearby vicinity. "We came across similar monuments around temples in the nearby hamlets. Some heritage enthusiasts assisted us in tracing them. A stone idol of Nandi and Shivalinga—both belonging to the Ganga period—was also retrieved," said Praveen, a resident of Gundagal. Efforts are on to decipher the script on these hero stones and display the content by putting up QR codes. The move has won appreciation from history enthusiasts. "The ancient veeragallus of Hiregundakal now stand with pride one again. We are grateful to officials and villagers of Hiregunadakal who made this revival possible," history blogger Swaminathan Natarajan tweeted to @TOIBengaluru. Inset -1 Monument parks in schools Prabhu G, IAS, chief executive officer, zilla panchayat, Tumakuru, said the community-collaborated work at Hiregundagal was the beginning of a mega campaign across the district. "Over the last three years, we rejuvenated 18 kalyani (temple ponds) that were forgotten or filled with debris constructed during the ancient and medieval periods. Under MNREGA, we have chalked out plans to set up similar monument parks in schools, benefiting kids across Tumakuru districts. We have already identified 900 schools and sought permission from the govt to prepare an action plan for setting up monument parks there," he said.
Zawya
2 days ago
- Business
- Zawya
PDO leads Oman's energy transition with breakthrough net zero projects
MUSCAT: Petroleum Development Oman (PDO), the largest producer of oil and gas in the Sultanate of Oman, is spearheading an ambitious and innovative transition toward a Net Zero future by 2050, underscoring its unwavering commitment to sustainability, energy efficiency, and climate responsibility. As published in the July edition of Wealth, a newsletter by the Ministry of Energy and Minerals, PDO's strategic roadmap reflects a clear alignment with Oman Vision 2040 and global goals for decarbonisation, as it pushes ahead with a series of integrated projects that merge energy production with significant emissions reduction. Among its most notable initiatives is a pioneering pilot project in the Dhulaima field, which marks a major milestone in carbon management and enhanced oil recovery (EOR). In a move that reflects a paradigm shift in the application of sustainable production technologies, PDO has successfully deployed carbon dioxide (CO₂) injection into the Upper Shu'aiba reservoir—an area previously considered inaccessible due to the limitations of conventional water injection and low rock permeability. The results were promising, with the CO₂ injection yielding a positive pressure response and no gas breakthrough, demonstrating both technical feasibility and reservoir stability. This pilot not only opens access to substantial untapped oil reserves but also supports emissions reduction through a carbon capture, utilisation and storage (CCUS) framework. What sets the Dhulaima project apart is its rapid and efficient execution. Delivered within just 12 months, the initiative stands as a clear example of PDO's capability to carry out complex engineering tasks with exceptional coordination and precision. The achievement also highlights the dedication and collaboration of multidisciplinary teams who delivered the project on schedule, with an exemplary safety record and zero health or environmental incidents—a hallmark of operational excellence in Oman's energy sector. In parallel with its work in CCUS and EOR, PDO is expanding its investments in renewable energy to reduce its carbon footprint across all operations. The company has set a target of generating 30 per cent of its operational energy requirements from renewable sources by 2026, a key stepping stone in its broader Net Zero strategy. Several large-scale solar projects are currently underway. Among them are Riyah-1 and Riyah-2, which, with a combined capacity of 200 megawatts, represent the first projects of their kind globally to be undertaken by an oil and gas company. Once operational in the last quarter of 2026, they are expected to offset around 740,000 tonnes of carbon dioxide emissions annually. Another major development is the North Concession photovoltaic solar project, also with a capacity of 100 megawatts and expected to be commissioned in the second quarter of 2026. This project alone will contribute to a reduction of more than 220,000 tonnes of emissions each year. Meanwhile, PDO's Amin photovoltaic solar power plant, which became operational in 2020, has already delivered a cumulative reduction of over 1.1 million tonnes of carbon dioxide emissions. The Miraah solar thermal steam generation project also continues to support clean steam supply for enhanced oil recovery, ranking among the world's largest facilities of its kind. Complementing these are smaller-scale but equally impactful initiatives such as the Dhiyaa project in Al Jazir, which supplies solar power to public buildings while promoting renewable energy awareness within local communities. At PDO's Mina Al Fahal headquarters, the company has implemented a car park solar project, now in its third phase, which contributes to the reduction of approximately 1,800 tonnes of carbon dioxide equivalent emissions annually. Equally critical to PDO's environmental strategy is the sustainable management of produced water, which presents both operational challenges and emissions concerns due to its energy-intensive disposal requirements. PDO has adopted a nature-based solution through the Nimr Wetlands project, which uses reed beds to naturally purify water With a treatment capacity of 175,000 cubic metres per day, this project not only avoids the release of 113,000 tonnes of carbon dioxide annually but also supports biodiversity, having created a desert habitat for over 140 species of birds and animals. Additionally, the Rima Water Treatment Plant, launched in 2022, employs innovative biological processes to treat around 40,000 cubic metres of water daily. This initiative has resulted in energy savings equivalent to 10 megawatts, translating into a further reduction of 48,000 tonnes of carbon dioxide emissions each year. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Oman: EDO records revenues of $3.776 bn for Q1 2025
MUSCAT: Energy Development Oman SAOC (EDO)—the wholly government-owned energy sector holding company—posted revenues totaling $3.776 billion for the first quarter of this year, marginally lower than the $4.005 billion recorded in the corresponding period of 2024. Announcing its unaudited interim condensed consolidated financial results for the first three months of 2025, EDO reported production expenses of $290.882 million, down from $333.128 million in Q1 2024. Royalty expenses dipped slightly to $1.422 billion, compared to $1.577 billion a year earlier. Profit before tax amounted to $510.220 million, down from $890.416 million in Q1 2024. Total assets were reported at $27.534 billion this year, roughly on par with last year's figure of $27.843 billion. Shareholders' equity totaled $10.169 billion, also broadly similar to last year's $10.197 billion. Total equity and liabilities stood at $27.534 billion, mirroring the $27.843 billion recorded at the end of Q1 2024. Affiliated with the Ministry of Finance, EDO owns 60% of the Block 6 Petroleum concession operated by Petroleum Development Oman (PDO), 100% of Block 6's non-associated gas concession, and 100% of Hydrogen Oman (Hydrom), the master planner of the Sultanate's green hydrogen industry. Other affiliates of EDO include Oman New Energies SPC (ONE), incorporated to explore future power-related business but currently not operational; and EDO Gas SPC (GasCo), which assumed the participating interest in the Gas Operations of Block 6 from EDO effective July 1, 2023. In June 2023, GasCo established EDO Sukuk Limited, a special purpose vehicle created to act as issuer and trustee of the Sukuk trust certificates under the trust certificate issuance programme. Also part of the EDO Group are: EDO InfraCo SPC, which is currently non-operational; and ECO SPC, a wholly owned subsidiary established in September 2024 to handle the inventory of surplus and scrap equipment and materials from operations under the Block 6 Petroleum Agreements, the Block 6 Gas Concession Agreement, and other oil and gas operations in the Sultanate of Oman.
Observer
2 days ago
- Business
- Observer
6th phase of 'Eidaad' internship programme launched
MUSCAT: The Ministry of Higher Education, Research and Innovation, in partnership with Petroleum Development Oman (PDO) and various higher education institutions, launched the sixth phase of the national internship programme 'Eidaad'. The launch ceremony saw the signing of 12 agreements (cooperation protocols) between industrial and academic sectors. The agreements were signed by Dr Rahma bint Ibrahim al Mahrouqiyah, Minister of Higher Education, Research and Innovation, and Farid bin Khalfan al Harthy, Executive Director of Corporate Support at PDO, and representatives of the industrial and private sector institutions concerned. Eidaad is a flagship initiative that bridges the gap between academia and industry by offering a full-year practical training opportunity with leading companies in Oman. The programme is designed to provide Omani university students with an immersive, hands-on learning experience aligned with their academic specialisations and labour market demands. Dr Mariam bint Belarab al Nabhaniyah, Director-General of Private Universities and Colleges at the Ministry, in her speech emphasised the strategic significance of the initiative in achieving Oman Vision 2040. 'Empowering Omani youth and enhancing their skills to meet job market demands is one of the core objectives of Oman Vision 2040. This is evident in our ongoing commitment to providing inclusive education, lifelong learning and impactful scientific research to develop national capabilities and foster a knowledge-based society.' The launch ceremony saw the signing of 12 agreements (cooperation protocols) between industrial and academic sectors. Farid bin Khalfan al Harthy, stated: 'The Eidaad programme reflects PDO's institutional transformation and our redefined role in contributing to Oman's future. It equips Omani youth with skills that meet emerging market requirements and supports the development of a resilient, knowledge-based economy. This partnership reaffirms our long-term commitment to human capital development and creating lasting impact for future generations.' Eng Hamed bin Saif al Hadhrami, Manager of External Training and Development at PDO, also noted: 'We are proud to take part in this pioneering national initiative, which brings tangible value to the country and nurtures young talent. It is crucial that we continue to work closely with academic institutions to align educational outcomes with industry needs and to update curricula that reflect real-world challenges. This collaboration will open doors for students to enter the job market with strong foundational skills for long-term success.' Since its inception in 2020, over 1,000 students have graduated from the programme. In its current phase, more than 400 students from various institutions across Oman are expected to participate, with placements across more than 40 companies spanning multiple sectors. This phase of the programme introduces enhanced features, including the 'Specialisation Alignment Initiative' which helps students and academic advisers better understand career pathways related to specific fields of study. This empowers students to make informed decisions about their professional futures. Additionally, the programme's updated framework incorporates core competencies such as critical thinking, communication and professional ethics to better prepare students for a rapidly evolving job market. Among the participants, students Ma'ther Ali and Sheikha al Badi expressed pride in being part of the Eidaad experience. 'The programme gave us the freedom to choose meaningful projects, while also offering academic and emotional support along the way. It helped us gain practical insight into real-world environments that will serve us in our future careers.' Nisreen Abdullah, a student from the German University of Technology in Oman (GUtech), shared a similar sentiment: 'Eidaad has been both academically and professionally enriching. I strongly encourage all university students to join, as it offers significant value to one's future career.' The Eidaad programme stands out as a practical model for effective collaboration between higher education and the private sector - enhancing graduate readiness, fostering innovation and supporting the national agenda for sustainable economic development.
