“International exploration not to compromise domestic programme,” says MD, PPL

KARACHI, August 24, 2012: Pakistan Petroleum Limited (PPL) was among eight companies worldwide to prequalify for participation in bidding of six exploration blocks in the Afghan-Tajik Basin offered recently by the Afghanistan government. Company officials will be attending a bidder’s conference later this month to sort out modalities involved in the process. The move is part of PPL’s strategy to secure international hydrocarbon reserves to meet the country’s escalating energy requirements.

“We look forward to expanding our international exploration assets and will be carrying out due diligence to evaluate the blocks on offer,” said MD and CEO, PPL Asim Murtaza Khan. The decision to participate in the bidding has the full support of the Ministry of Petroleum and Natural Resources.

PPL officials attending the conference will also have bilateral discussions on mutual business interest with other companies, particularly Turkish Petroleum Corporation, the conference host.

However, the company’s international efforts will clearly not compromise its fast-track domestic exploration programme. “There will be zero let-up on our domestic exploration programme which is top priority for us,” Khan assured.