Sustainable Development through Utilization of Geothermal Energy

on 09/10/2024

Meeting the growing worldwide demand for power and tackling environmental issues both depend on the sustainable development of energy supplies. One of the main sources of sustainable development is geothermal energy, which is produced by the heat that exists inside the Earth. Using the Earth’s inherent heat provides a dependable, low-carbon energy source that can boost the economy, cut emissions of greenhouse gases, and encourage environmental responsibility. The small environmental impact of geothermal energy is a crucial factor in its contribution to sustainable development. The production of geothermal energy results in extremely low emissions of greenhouse gases, in contrast to fossil fuels. When considering other energy sources, the extraction procedure is less complicated and requires less land. Since geothermal power facilities have a smaller physical impact and cause less environmental degradation and disturbance to habitats, they are in line with the ideas of sustainable development. Being a key resource for sustainable development, geothermal energy is predictable and reliable, which helps to stabilize power generation. The power supply from geothermal energy is steady and constant, in contrast to sporadic renewable sources like wind or solar energy. Its dependability solves issues related to the unpredictability of certain other renewable energy technologies, improving energy security and resilience. An electricity grid that is robust and dependable is supported by geothermal power, which is base load and steady.
Because geothermal energy may provide distributed and decentralized power solutions, it can help promote sustainable development. Direct-use applications, or small-scale geothermal systems, can provide heat directly to nearby towns for industrial, agricultural, or heating uses. By lowering reliance on centralized power networks and fostering self-sufficiency in energy supplies, these decentralized solutions enable communities to become energy independent. Sustainable development is promoted by the exploration and exploitation of geothermal resources, which also help to create jobs and the economy. Employment opportunities are created in many places by geothermal projects, which demand skilled workers for mapping, drilling, plant functioning, and maintenance. Geothermal power plant development also improves the socioeconomic well-being of the local community by drawing in investment and boosting economic activity. To achieve sustainable development objectives pertaining to electrification in isolated or off-grid locations, geothermal energy might be quite helpful. Accessing affordable and dependable energy is a challenge in many parts of the world, especially in developing nations. Even on a smaller scale, geothermal projects can give these marginalized communities a reliable and sustainable energy supply, fostering economic and social growth by facilitating access to opportunities and necessary services.
Sustainable urban development is aided by the incorporation of geothermal energy into district heating networks. Geothermal district heating is a viable alternative to or addition to conventional fossil fuel-based heating systems in high-demand heat regions. This shift improves the general environmental quality of metropolitan regions by reducing greenhouse gas emissions and air pollution. By encouraging greener and more effective energy solutions, geothermal district heating is consistent with the principles of sustainable urban design. Geothermal energy is used for warming soil and heating greenhouses, among other uses that promote sustainable agricultural methods. Greenhouses with geothermal heated floors offer a regulated and ideal atmosphere for plant development, prolonging the growing season and boosting agricultural output. Farmers may increase crop yields and encourage sustainable agricultural practices by using geothermal heat for soil warming. This would improve food security and the economic sustainability of rural communities.
Geothermal power facilities have the capacity to generate combined heat and power (CHP), which improves the overall sustainability and efficiency of the plant. CHP systems make use of the heat produced during the production of electricity for other purposes, such as industrial processes, district heating, or greenhouse operations. By maximizing the use of geothermal resources, this integrated strategy maximizes energy output overall and makes a valuable contribution to a more resource-efficient and sustainable energy system. There are prospects for sustainable development when geothermal resources and other renewable energy sources coexist. Complementary and diverse energy generation is provided by hybrid energy projects, such as those that integrate geothermal with solar or wind power. The total energy system’s reliability is improved by this combination, guaranteeing a steady supply of electricity even if the production of individual renewable sources varies. Hybrid initiatives support a robust, well-rounded strategy for the development of sustainable energy.
The use of geothermal energy is becoming more widespread as a result of the investigation of non-conventional geothermal resources such Enhanced Geothermal Systems (EGS). To improve heat extraction, EGS includes igniting preexisting fissures in hot rock strata or developing new ones. With the use of this technique, geothermal projects can be developed in areas where conventional resources might not be easily accessible, thereby expanding the geographic reach of feasible geothermal resources. Unconventional resource exploration advances a more inclusive and broad strategy for the development of sustainable energy. Geothermal energy is a dependable, low-carbon, and adaptable energy source, making its use a fundamental component of sustainable development. Geothermal energy adheres to the concepts of sustainable development, providing dependable power generation, no negative influence on the environment, and the creation of jobs, economic expansion, and decentralized solutions. The continuous progress in geothermal technology, in conjunction with cross-border cooperation and inventive uses, establish geothermal energy as a pivotal element in the worldwide endeavor towards a more sustainable and robust energy prospect.

Expert moot on Creativity, Emerging Technologies for a Sustainable Economy FPCCI Central Standing Committee Hosts Hybrid Meeting on Creativity and Emerging Technologies for a Sustainable Economy.

on 09/10/2024

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) recently held a hybrid meeting of its Central Standing Committee, focused on the vital role of creativity and emerging technologies in fostering a sustainable economy for Pakistan. This event brought together a diverse group of professionals and experts from seven cities and three countries, highlighting the importance of collaboration across various fields.
Participants included specialists in chip manufacturing, solar cell technology, and healthcare optics, as well as professionals from the switch manufacturing sector. The meeting also featured insights from industry and academia, including human capital development experts and vice chancellors from five prominent universities. Their collective expertise underscored the need for innovation and indigenization in Pakistan’s economic landscape.
The lectures delivered during the event focused on key areas such as manufacturing processes and the crucial role of human capital development in driving economic growth. Experts emphasized the necessity of integrating creative solutions and advanced technologies to enhance productivity and sustainability in various industries.
This gathering not only facilitated the exchange of ideas but also served as a platform for stakeholders to discuss actionable strategies for leveraging creativity and technology to strengthen Pakistan’s economy. The collaborative efforts from participants are expected to pave the way for significant advancements in manufacturing and overall economic development in the country.

Alsons Technology, GE Health Care join hands to Bring Advanced Ultrasound Solutions to Pakistan!

on 09/10/2024

Alsons Technology, a company of the Alsons Group of Industries engaged in medical and technology solutions, has announced its partnership with GE HealthCare, a global leader in medical technology. “This collaboration will introduce GE HealthCare’s Value Segment and Vscan Air Series Ultrasound devices to healthcare providers across Pakistan,” Alsons’ social media account stated.
This partnership is a key milestone for Alsons Technology as it expands its portfolio of healthcare offerings, the company added. “Alsons will oversee the sale, distribution, and maintenance of GE’s Value Segment Ultrasound devices, including popular models like the Versana family and Vivid T8/T9, providing medical professionals with affordable and reliable diagnostic tools.”
A standout addition is the Vscan Air, a pocket-sized handheld ultrasound device set to launch in Pakistan later this year, aimed at transforming point-of-care diagnostics with real-time imaging capabilities for clinics, hospitals, and remote locations.
GE HealthCare’s Value Segment Ultrasound products and the Vscan Air are tailored to meet the needs of healthcare systems in developing markets, making them well-suited for Pakistan’s expanding healthcare sector. This partnership ensures that these state-of-the-art technologies will be accessible, affordable, and supported by comprehensive after-sales services, including training, maintenance, and technical support.

OGDCL discovers hydrocarbon reserves in Sindh.

on 09/10/2024

In a significant milestone for Pakistan’s energy sector, the Oil and Gas Development Company Limited (OGDCL), the nation’s largest exploration and production (E&P) firm, has made an exciting discovery of hydrocarbon reserves at the Akhiro-1 exploratory well. This well is strategically situated in the Khairpur district of Sindh, a region known for its geological potential.
The announcement was formally communicated in a notice to the Pakistan Stock Exchange (PSX) on a Wednesday, sparking interest and optimism among investors and stakeholders alike. The notice detailed that the Sawan South joint venture, which includes OGDCL holding a 20% working interest, alongside United Energy Pakistan Limited (UEPL) as the operator with a commanding 75% stake, Government Holding Private Limited (GHPL) with 2.5%, and Sindh Energy Holding Limited (SEHL) also with 2.5%, has successfully unearthed gas from the Lower Gour B Reservoir Sand at the Akhiro-1 well.
OGDCL’s update revealed that drilling operations at the well commenced on June 15, 2024, and the drilling team has achieved a remarkable depth of 12,442 feet. The well underwent testing and exhibited promising results, producing approximately 10 million standard cubic feet per day (mmscfd) of gas at a choke size of 24/64 inches and a Wellhead Flowing Pressure (WHFP) of 4,000 pounds per square inch (Psig). This successful output not only underscores the potential of the well but also marks a significant step forward in the exploration of energy resources in the region.
Furthermore, OGDCL emphasized that this discovery mitigates risks associated with further exploration in the Sawan South Block. The company noted that the newfound reserves will play a crucial role in bolstering the energy security of Pakistan, relying on indigenous resources to meet the nation’s energy demands and augmenting the country’s hydrocarbon reserve base.
In the context of broader developments in the sector, just days prior to this announcement, OGDCL entered into a Memorandum of Understanding (MOU) with CNPC Chuanging Drilling Engineering Company LTD, a prominent player in China’s drilling and upstream oil field services. This partnership aims to explore the shale and tight gas potential in Pakistan, further highlighting the international collaboration aimed at enhancing the country’s energy capabilities.
In its recent financial report, OGDCL disclosed a profit-after-tax (PAT) of Rs208.98 billion for the fiscal year ending June 30, 2024. This figure represents a decline of nearly 7% compared to the Rs224.62 billion profit recorded in the same period the previous year. In light of its financial performance, the company announced a final cash dividend of Rs4 per share, equivalent to 40%, which reflects its ongoing commitment to providing value to its shareholders despite the fluctuations in earnings.
This discovery at the Akhiro-1 well not only exemplifies OGDCL’s ongoing efforts to explore and develop hydrocarbon resources but also signifies a hopeful trajectory for Pakistan’s energy landscape, promising greater stability and sustainability in the years to come.

Data Centers, Cloud Computing, AI: Mari Petroleum to Invest Rs10 Bn in New Subsidiary.

on 09/10/2024

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest exploration and production companies, has approved a Rs10 billion (approximately $36 million) investment to establish a wholly-owned subsidiary focused on technology-driven ventures. The announcement was made in a notice to the Pakistan Stock Exchange (PSX) this month.
During an emergent board meeting on September 23, 2024, the board approved this significant investment aimed at developing capabilities in areas such as data centers, cloud computing, artificial intelligence (AI), and other new technologies, particularly in the petroleum and mining sectors.
This move follows the board’s prior decision to create a subsidiary concentrating on cloud computing and AI, signaling MARI’s growing interest in the rapidly evolving tech sector. The initiative aligns with the burgeoning IT industry in Pakistan, which has seen IT and IT-enabled services (ITeS) export remittances soar to a record $3.223 billion in the fiscal year 2023-24, marking a 24% increase from $2.596 billion in the previous year.
In FY2024, MARI reported a profit-after-tax (PAT) of Rs77.28 billion, up nearly 38% year-on-year from Rs56.13 billion the previous year. The board also announced a final cash dividend of Rs134 per share, equating to a 1,340% return, along with an 800% bonus share issuance (eight shares for every one share held) sourced from the Capital Redemption Reserve Fund and Revenue Reserves.
In a previous notice accompanying its financial results, MARI revealed its initial foray into the IT sector with the formation of a subsidiary dedicated to cloud computing and AI. The recent developments come amid the government’s approval of a five-year extension for the Mari D&P lease, which now extends the company’s rights until November 2029, alongside an additional payment based on wellhead value.
The company stated that the amendments to the Petroleum Policy 2012 now allow the lease extension as long as field production remains commercially viable. The issuance of bonus shares reflects MARI’s robust balance sheet and commitment to growth and diversification.n