PEL Strengthens Pakistan’s Energy Security with Strategic Acquisition from KUFPEC

Staff Report
ISLAMABAD: Petroleum Exploration (Pvt) Limited (PEL), one of Pakistan’s leading private-sector Exploration and Production (E&P) companies, has taken a significant leap in bolstering the country’s energy future through the acquisition of key energy assets from Kuwait Foreign Petroleum Exploration Company (KUFPEC).
This landmark acquisition includes vital assets in Dadu, Kirthar, Tajjal, and Qadirpur concessions, with the Bhit and Qadirpur leases being among Pakistan’s most critical natural gas production fields. The move strengthens PEL’s portfolio while addressing Pakistan’s pressing energy needs by enhancing domestic production and reducing reliance on costly imports.
With over four decades of pioneering contributions to Pakistan’s energy sector, PEL has established itself as a leader in exploration and development. This acquisition reflects the company’s commitment to leveraging untapped energy potential to support Pakistan’s journey toward energy independence.
“This acquisition is not just a business milestone for PEL but a significant step toward enhancing Pakistan’s energy security,” a PEL spokesperson stated. The company aims to implement innovative exploration and development practices to maximize the value of the newly acquired assets.

The acquisition also underscores the robust economic partnership between Pakistan and Kuwait. By securing these assets from KUFPEC, a prominent Kuwaiti entity, PEL has strengthened ties between the two nations, paving the way for deeper economic collaboration. This partnership highlights the mutual benefits of bilateral cooperation in fostering sustainable development.
KUFPEC, despite this divestment, remains committed to Pakistan’s energy sector and is actively preparing for the upcoming offshore bidding round. The company continues to engage with the Directorate General Petroleum Concession and other major exploration firms to contribute to Pakistan’s energy goals.
PEL’s acquisition aligns with the vision of its late founder, Zaheeruddin, whose leadership laid the groundwork for the company’s success. By pursuing sustainable and innovative energy solutions, PEL is honoring his legacy while shaping Pakistan’s energy landscape for future generations.
This acquisition is expected to create opportunities for local employment, technology transfer, and skill development, further contributing to economic growth. It represents a decisive step toward self-sufficiency by reducing reliance on expensive Liquefied Natural Gas (LNG) imports and boosting domestic energy production.
As Pakistan continues to grapple with rising energy demands, this acquisition by PEL serves as a beacon of hope, signaling progress toward a stable and self-reliant energy future.