11
April 2024
Oracle Power
PLC
("Oracle" or the
"Company")
Completion of Geotechnical
Study & Electrical Resistivity Survey for Renewable Power
Production Facility, Pakistan
Oracle Power PLC (AIM: ORCP), an
international project developer, together with its joint
venture company, Oracle Energy Limited ("Oracle Energy"), a developer of green
energy projects, is pleased to announce the completion of the
Geotechnical Study and Electrical Resistivity Survey (ERS) in
respect of the planned renewable power
plant on the project site in Jhimpir, in the Sindh Province of
Pakistan. F&M (Pvt.) Ltd ("F&M"), a leading provider of engineering,
testing, and verification services, completed the studies and
submitted reports which confirm favourable conditions
for development and
provide guidance for construction and water management.
The Geotechnical Study, which involved
comprehensive soil investigation and rotary drilling, encountered
sand, silt, gravel, silty sand, mudstone, limestone, sandstone,
friable sandstone, claystone and shale in boreholes during field
investigation. Laboratory testing of these samples was carried out
in the F&M laboratory in Karachi. Water was not encountered in
boreholes during exploration, but this may fluctuate due to
seasonal and other environmental variations.
Due to presence of negligible
exposure of sulphate and chloride in soil and rock samples
extracted from boreholes, ordinary cement as per ASTM C-150 has
been recommended to use for all underground construction,
confirming favourable ground conditions for project
development.
The Electrical Resistivity Survey
(ERS) which was also completed in
parallel, determined subsurface lithology, porosity, and
permeability, providing critical insights for site planning,
infrastructure design, and water management strategies. The survey
identified diverse lithological characteristics, including the
presence of clay, sandstone, and limestone, alongside significant
groundwater resources.
Following completion of the Geotechnical Study and the ERS,
the Company intends to
undertake Front End Engineering and Design (FEED) studies and, in
parallel, proceed to securing potential financial arrangements for
on ground construction and development of its renewable power and
green hydrogen project.
Naheed Memon, CEO of Oracle, commented:
"The completion of the Geotechnical Study and Electrical
Resistivity Survey mark further significant milestones in the
development of our 1.3 GW renewable power and green hydrogen
project, and also completes all ground related investigation for
the large 28.3 sq km project site. The studies have confirmed the
favourable attributes for development of the site, and generated
valuable data and insights, positioning us to advance to FEED
studies and, in parallel, proceed to securing potential financial
arrangements for on ground construction and
development."
-ENDS-
For
further information on Oracle Power PLC, visit the Company's
website at www.oraclepower.co.uk or
contact:
Oracle Power PLC
Naheed Memon - CEO
+44 (0) 203 580 4314
Strand Hanson Limited (Nominated
Adviser & Joint Broker)
Rory Murphy, Matthew Chandler, Rob
Patrick
+44 (0) 20 7409 3494
Global Investment Strategy UK
Limited (Joint Broker)
+44
(0) 20 7048 9432
Samantha Esqulant
St Brides Partners Limited
(Financial
PR) +44
(0) 20 7236 1177
Susie Geliher / Isabel de
Salis
About F&M (Pvt.) Ltd
Founded in 2017, F&M (Pvt.) Ltd
has become a leading provider of engineering, testing, and
certification services. Offering NDT, API, building stability
assessments, material testing, chemical & water testing, GAP
analysis, ISO training, risk assessments, and
national/international certification support, their experienced
team adheres to international standards while delivering
client-centric solutions for industries such as construction, oil
& gas and manufacturing. With a commitment to following
international codes and standards, quality, and integrity, they
assist industries across Pakistan in achieving their
goals.