PEL strengthens Pakistan’s energy sector with KUFPEC asset acquisition

Petroleum Exploration (Pvt) Limited (PEL), a prominent private-sector Exploration and Production (E&P) company in Pakistan, has reached a significant milestone by acquiring key energy assets from the Kuwait Foreign Petroleum Exploration Company (KUFPEC).

The newly acquired assets include concessions in Dadu, Kirthar, Tajjal, and Qadirpur—regions hosting some of Pakistan’s most productive natural gas fields, such as the Bhit and Qadirpur leases. This acquisition strengthens PEL’s resource base, enabling the company to address Pakistan’s growing energy needs while reducing reliance on costly imports like liquefied natural gas (LNG).

The transaction also highlights the deepening economic ties between Pakistan and Kuwait. By acquiring these assets from KUFPEC, a leading Kuwaiti enterprise, PEL reaffirms the strong bilateral relationship between the two nations. This deal is expected to foster greater economic cooperation, particularly in the energy sector, while potentially expanding collaboration into other areas of mutual interest.

Beyond enhancing energy security, the integration of these assets will create job opportunities, facilitate technology transfer, and support local skill development. These efforts align with Pakistan’s broader goals of achieving sustainable economic growth and energy independence.

The acquisition comes at a crucial time as Pakistan faces increasing energy demand and challenges in domestic production. With its expanded reserves and production capacity, PEL is positioned to play a vital role in stabilizing the country’s energy supply.

Meanwhile, KUFPEC has emphasized its continued collaboration with the government of Pakistan, the Director General Petroleum Concessions, and major E&P companies. The company remains committed to Pakistan’s energy landscape and is actively preparing for the upcoming offshore bidding round announced by the government.