Pakistan's PEL Signs E&P JV with Moroccan State Oil Company
SINGAPORE Jul 02, 2007 (Dow Jones Newswires)
Petroleum Exploration Pvt. Ltd., or PEL, has become the first-ever Pakistani oil and gas company to undertake exploration and production in North Africa, Pakistan's Business Recorder reported Monday.
PEL has entered into a joint venture agreement with ONHYM, the Moroccan state oil and gas company, for exploration of oil and gas in three blocks in the country.
PEL will hold a 75% working interest in the block and the Moroccan state oil company 25%.
Copyright (c) 2007 Dow Jones & Company, Inc.
- Jura Energy Reports a Potential Gas Find in Pakistan's Badin South IV Block (Feb 24)
- Taipan Inks LOI to Acquire 50% Stake in Salam Block in Sindh, Pakistan (Aug 12)
- Jura Energy Expects Drilling Results of Badar-2 Well in Pakistan Soon (May 08)