Oracle Power, through its subsidiary Sindh Carbon Energy Ltd (‘SCEL’), owns Block VI in the Thar Province of Pakistan where it has a 30-year mining lease over 1.4 bn tonnes (JORC) of lignite coal. In 2016 the Project was elevated to priority project status in CPEC and at the 9th JCC meeting in 2019 incorporated into Oil & Gas group. The resource has a number of development paths:
mining the coal as feedstock for the proposed mine mouth power plant;
direct sale of the coal to other power projects;
gasifaction of the coal to produce urea/fertilzer (a commodity in high demand both internationally and domestically); and
To advance the Thar Project, the Company has a Joint Development Agreement and Cooperation Agreement with China National Coal Development Company and Sheikh Ahmed Dalmook Al Maktoum Private Office One Person Company LLC for mine, power and coal to gas development.