PPL initials contract for acquiring exploration rights in Iraq 

Pakistan Petroleum Limited (PPL) initialled the contract on July 15, 2012 to explore hydrocarbon reserves as operator in Block 8, Iraq, spanning an area of 6000 square kilometres in the Diyala and Wasit governorates.

Senior Manager, Business Development Abdul Wahid from PPL and Abdul Mahdy-al-Ameedi, Director General, Petroleum Contracts and Licensing Directorate, Ministry of Oil, Iraq initialled the contract which has been sent for approval by the Iraqi Cabinet. Subsequently, the final contract will be signed between PPL and the Ministry of Oil, Iraq for initiation of exploration activities in the block.

Earlier, PPL participated in the licensing round for 12 blocks in Baghdad held between May 30 and 31, 2012. The company submitted a winning bid for Block 8. Among the 39 companies qualified to participate in the bidding round, PPL was also among the few deemed eligible to work as operator in Iraq and the only company to prequalify from Pakistan.