PAKISTAN
TPL REIT Fund I and TOP Properties have informed the Pakistan Stock Exchange that the fire incident at Korangi Creek, which first ignited on the evening of March 28, 2025, has once again extinguished naturally late last night. This marks the second time in 10 days that the fire has subsided without external intervention, aligning with the 2–3 week timeline previously projected by industry experts and TPL’s internal evaluations.
The diminishing intensity of the fire and its eventual extinguishment are largely attributed to it being a small, isolated gas pocket. However, the situation continues to be closely monitored to detect any potential residual gas leakage.
Following the fire incident, a Technical Committee was constituted by the Ministry of Energy (Petroleum Division) on April 8, 2025. As part of containment efforts, the Committee engaged Cudd Well, a renowned U.S.-based firm, to provide expert evaluation and strategic advice. The Committee, comprising representatives from Pakistan Petroleum Limited (PPL), Oil & Gas Development Company Limited (OGDCL), and Pakistan Refinery Limited (PRL), is overseeing technical analysis and determining next steps.
TPL expressed deep gratitude to the Government of Pakistan, local authorities, Mayor of Karachi, District Administration, and the Cantonment Board Korangi Creek (CBKC) for their timely response, coordination, and continued support during the course of this unusual incident.
The company assured that all developments would be transparently shared with stakeholders as evaluations progress under the guidance of the Government-appointed Technical Committee. – Engineering Review
