ISLAMABAD – Petroleum Exploration (Pvt) Limited (PEL), a leading private exploration and production company in Pakistan, has acquired key energy assets from Kuwait Foreign Petroleum Exploration Company (KUFPEC).
This acquisition strengthens PEL’s role in Pakistan’s energy sector and enhances the country’s energy security during a challenging period.
With over four decades of experience, PEL is recognized for its energy exploration and development work. The acquired assets include concessions in Dadu, Kirthar, Tajjal, and Qadirpur, along with the Bhit and Qadirpur leases, which are major natural gas production fields.
These additions expand PEL’s resource base and position the company to meet growing energy demands while reducing reliance on costly imports.
This deal also reflects deepening economic ties between Pakistan and Kuwait. It highlights the trust and cooperation between the two nations, particularly in the energy sector, and signals opportunities for broader collaboration in the future.
PEL views this acquisition as a step toward energy self-sufficiency, addressing high energy import costs and limited domestic production.
The integration of these assets is expected to create jobs, encourage skill development, and attract further investment in Pakistan’s energy industry. By focusing on domestic energy production, PEL aims to support the country’s economic growth and stability.
KUFPEC, despite this divestment, has confirmed its commitment to exploring future opportunities in Pakistan’s energy sector, including participation in upcoming offshore bidding rounds.
