Pakistan Petroleum Limited seeking joint venture with iranian oil companies

Karachi: We refer to your letter no. KSE/C-1079-5349 dated 8 September, 2011 seeking our comments on the news item published in the daily Business Recorder on 8 September, 2011 regarding PPL’s participation in joint venture with Iranian oil companies.

In this connection we would like to advise that as part of its exploration strategy, PPL is interested to enter into the E and P business activities in Iran. PPL has evaluated a number of opportunities for investment in oil and gas sector of Iran and is pursuing for Government’s assistance in acquiring working interest in prospective blocks of Iran on Government to Government basis on mutually agreed terms.

PPL is also interested in opportunity of working with any sound Iranian E and P Company as a joint venture partner in PPL’s operated blocks in Pakistan.

For more information, contact:
M. Mubbasshar Siddiqui
Company Secretary
Pakistan Petroleum Limited
PIDC House, Dr. Ziauddin Ahmed Road,
Karachi-75530, Pakistan
Tel: (021) 35651480-98,
UAN: (021) 111-568-568,
Fax: 92-21-35680005