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Privatisation Commission Receives Fifteen Expression Of Interests From Leading Companies For Oil & Gas Interests Sale

Islamabad, July 23, 2001

Privatisation Commission has received fifteen Expression of Interests from leading international companies interested in acquiring concessions for working interest in oil and gas fields.

The Exploration & Production (E & P) sector in Pakistan is active, with a total of 38 companies of various nationalities, including Pakistani firms. The combination of potentially significant growth in energy demand the continuing deregulation and recent large gas discoveries make Pakistan an attractive proposition for Exploration and Production companies. Pakistan's historical drilling success is well above world average at better than 1 in 4.

 

 

Parties with relevant credentials who have submitted EOIs and who will satisfy the necessary financial and technical standards will be invited to sign a Confidentiality Agreement, following which a copy of the Information Memorandum will be provided, allowing a comprehensive assessment of the assets being offered. Qualified parties that wish to have access to the full data package for their own due diligence may do so on payment of further fee. Gaffney, Cline & Associates and JP Morgan are providing the Financial Advisory Services for this transaction.