SYNOPSIS
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PEL is a private sector indigenous E&P company. It was established in 1994
by Mr. Zaheeruddin who is the chairman and chief
executive. In a short period PEL has become an active operator having largest acreage among thirteen private sector operating companies in Pakistan. It is exploring on land and deep waters off-shore Pakistan. It is also the first Pakistani E&P company operating abroad and is currently exploring over three onshore blocks in Morocco.
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Block-22 Plant, Shikarpur |
PEL has an highly experienced E&P team with industry renowned experts. It is organized into multi-disciplinary integrated teams and believes in optimally exploiting knowledge/technology by outsourcing to industry leaders.
It has thirteen JV partners from Pakistan, Canada, Kuwait, UK, Morocco and Australia, which includes BP, OGDCL, PPL, Frontier Holding Ltd, Gulf Petroleum Exploration, ONHYM, Sherritt, Spud,OGIL, etc.
PEL welcomes new partners in a number of concession areas onshore/offshore Pakistan and onshore Morocco.
VISION
PEL recognizes the importance of growing knowledge and evolving technology for effective exploitation of oil and gas from old as well as new areas of petroleum systems. It aims at building a strong team with advantage of knowledge and technology and experience to develop a cutting edge for hydrocarbon exploration and production onshore and offshore Pakistan and abroad. It envisions a due role in contributing
to energy sector and economy of Pakistan. It is determined to protect and safeguard the environment while carrying out its exploration and production operations. PEL visualizes to be a credible member of petroleum industry.
POLICY
PEL believes in spreading risk and sharing reward. It is open to farming out to credible companies and farming into other opportunities. It values the proliferation of information and knowledge for the common benefit of its joint venture partners and gives due importance to their views in decision making. It builds on a strong core of technical expertise in all areas of exploration and production. It seeks to strengthen its credibility as a smart and responsible exploration and production company.
MISSION
PEL is to become a successful world class E&P company to play an important role in exploration and production of oil and gas in Pakistan and abroad. It aims at increasing its share of production of natural gas from 1% of total country production to 5% by 2015 and become significant new producer of oil. PEL is determined to create, train and hold a cutting edge professional expertise in all disciplines of operations. PEL is to follow corporate culture guidelines for professional identity as a leading exploration and production company.
BRIEF HISTORY
PEL was established by Mr. Zaheeruddin who is the Chairman and Chief Executive. Under his dynamic leadership PEL embarked upon an aggressive exploration program to rapidly search new deposits of hydrocarbons and develop the new discoveries on fast track basis. In less than 15 years PEL has matured into an experienced and successful E&P Company. It now has the largest exploration/mining acreage among private sector indigenous companies and is operating onshore and offshore Pakistan and onshore Morocco.
PEL has a highly experienced team of petroleum professionals including geologists, geophysicists, petroleum and process engineers, and financial experts. It is adequately equipped with logistics and support services.
PEL currently operates 9 onshore and 3 offshore exploration licenses, 6 development and production leases, and one non-operated joint-venture block in Pakistan. It has so far drilled 15 exploration and development wells and has recently completed drilling three deep wildcat exploration wells in joint ventures involving an expenditure of about US$ 50 Million. PEL is presently producing 31 MMCFD (Million Cubic Feet per Day) of natural gas from four gas fields. PEL and its joint venture partners are committed to investing over US$300 Million on exploration and development in its concession areas in the next three years.
