Oil and gas fields: PPL plans to acquire blocks in Iran

Country’s second largest explorer has evaluated opportunities.

KARACHI: Pakistan Petroleum Limited (PPL) is pursuing the government’s assistance in acquiring working interests in prospective blocks of Iran on government-to-government agreed terms, said a statement on Wednesday.

The country’s second largest oil and gas explorer is interested in entering into oil and gas exploration and production activities in Iran, it said in response to a query of Karachi Stock Exchange regarding a news item published in  the Business Recorder regarding the state-owned company’s ambitions of operating in Iran.  PPL said that it has evaluated a number of opportunities for investment in the oil and gas sector of Iran.

The company also offered any sound Iranian exploration and production company to become a joint venture partner in PPL’s operated blocks in Pakistan.

The company is also scheduled to participate in Iraq’s fourth energy auction in late January 2012 among 46 other companies from across the globe.

Published in The Express Tribune, September 15^th,  2011.