Oracle Power launches two studies at Jhimpir site

27th Feb 2024 15:49

(Sharecast News) - Oracle Power announced on Tuesday that, alongside its joint venture company Oracle Energy, it had initiated a geotechnical study and an electrical resistivity survey (ERS) for the proposed renewable power plant site at Jhimpir, in Pakistan's Sindh province.

The AIM-traded firm said the geotechnical study, overseen by engineering services provider F&M, would involve soil investigation, rotary drilling for sample collection, core drilling for rock formation assessment, and comprehensive laboratory testing.

It said the study was designed to provide insights into soil and rock properties, bearing capacity, settlement, and recommendations through a detailed engineering report.

At the same time, the electrical resistivity survey would be conducted to analyse lithology, porosity, and permeability using borehole data.

The survey, employing advanced ERS technology, would aid in optimising site planning and infrastructure design to accommodate subsurface conditions.

Additionally, the survey results would inform water management strategies, flood risk assessment, and environmental impact mitigation measures.

The company said the combined approach of parallel soil investigation and ERS was expected to yield essential data and valuable insights crucial for informed decision-making during the engineering, design, and construction planning phases of the project.

"The commencement of these important studies is testament to our commitment to responsible project development," said chief executive officer Naheed Memon.

"We remain aligned with national and international standards as we seek to advance relationships with potential investors and lenders and move closer to the front-end engineering design (FEED) phase, thereby solidifying our path towards a comprehensive and sustainable project blueprint.

"The combined insights from soil investigation and an electrical resistivity survey will ensure the structural integrity and safety of the project and significantly contribute to sustainable development, efficient resource management and environmental stewardship."

At 1505 GMT, shares in Oracle Power were down 2.04% at 0.02p.

Reporting by Josh White for Sharecast.com.