Exploring The World,
Discovering Energy

PEL is pleased to announce that it has entered into definitive Sale and Purchase Agreements with three subsidiaries of Kuwait Foreign Petroleum Exploration Company k.s.c.c. for the acquisition of key assets in Pakistan including the Dadu, Kirthar, Tajjal, and Qadirpur Concessions.

This strategic acquisition which includes the Bhit and Qadirpur Leases, marks a significant milestone for PEL as the company expands its exploration portfolio and strengthens its presence in Pakistan's energy sector.

This acquisition demonstrates PEL's ongoing commitment to discovering and harnessing the country's energy potential.

In a statement, the Chairman and Chief Executive of PEL, Mr Shahzad Zaheer, said, "This acquisition aligns with the long-term strategy of Petroleum Exploration (Private) Limited, to continue exploring the world, discovering energy and unlocking the country's vast energy resources, and embodies the vision of our founder, the late Mr Zaheer Uddin, whose leadership and foresight have guided us to this important moment. We are confident that the addition of these assets will help us drive forward our mission to meet the growing energy demands of Pakistan."

PEL remains committed to the exploration and development of Pakistan's natural resources and looks forward to contributing to the nation's energy security and sustainable growth. "