Petroleum Exploration expands operations in Pakistan with KUFPEC asset acquisition

Petroleum Exploration (Pvt) Limited (PEL) has acquired key energy assets from Kuwait Foreign Petroleum Exploration Company (KUFPEC). This deal includes concessions in Dadu, Kirthar, Tajjal, and Qadirpur, enhancing PEL's role in Pakistan's energy sector. The acquisition expands PEL's resource base and aims to reduce reliance on energy imports. It also reflects growing economic ties between Pakistan and Kuwait, signaling potential for future collaboration. PEL expects the integration of these assets to create jobs and attract investment in Pakistan's energy industry. KUFPEC remains committed to exploring future opportunities in the country.