A group of USA companies comprising of Alpha Petroleum Services of USA and withholding company RigMax, headed by their Chief Executive Officer, Truman Wright visited Pakistan Petroleum Limited (PPL) Office on Thursday to discuss the joint collaboration with PPL and met with PPL MD Saeed Ullah Shah and other top management.
They expressed their interest to invest in upstream E&P activities in Pakistan. MD PPL welcomed them and gave a brief overview of E&P Sector in Pakistan. He specifically mentioned huge Shale and Tight gas/oil potential in the country. He emphasised that the environment for investment in E&P Sector is very conducive and highlighted the potential of unexplored onshore Frontier basin including Balochistan and shallow and deep water offshore basins. He invited the visiting American Companies to have their experts visit the PPL data room with a view to identify the areas for possible joint venture.
They have shown their keen interest in participating jointly with PPL in upcoming bidding round. Truman Wright expressed his satisfaction over the prevailing investment climate in Pakistan and improved security situation in the country. He was of the view that this is the right time for foreign E&P Companies to enter Pakistan's E&P business. They also offered their expertise in drilling horizontal wells which will be extremely beneficial for Shale and Tight Gas resource exploitation in the country.-PR
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