OGDC & PPL seek Joint Ventures with Iranian Oil Companies – Alfalah Securities Limited
Karachi: Oil and Gas Development Company Limited (OGDC) and Pakistan Petroleum Limited (PPL) are seeking joint ventures with Iranian National oil companies for oil and gas exploration and production in both countries.
According to Alfalah Securities Limited, proposals for these ventures would be discussed in a meeting of the Pak-Iran Joint Economic Commission (JEC) to be held on September 8, 2011 for the development of small oil and gas fields which would be expanded further into bigger fields. OGDCL is keen to extend its exploration and production of petroleum in collaboration with National Iranian Gas Company (NIGC), National Iranian Oil Company (NIOC) and National Iranian Petroleum Company (NIPC) and may also offer their assets to NIPC. Moreover, the Iranian National Petrochemicals Company (NPC) has showed interest in cooperating with Pakistani companies for the export of petrochemical products to Pakistan.