PPL broadens its horizons

AFP/ASIF HASSAN

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Anthea Pitt

 19 February 2007 07:48 GMT

State-run Pakistan Petroleum Ltd (PPL) plans to spend up to 10 billion rupees ($165 million) a year on exploration in Pakistan and is also getting involved in a project in Yemen, an executive said today.



Over the next few years, PPL wants to expand the number of blocks it operates in Pakistan to 30 from the current 24, PPL managing director Syed Munsif Raza told Reuters.

"We are targeting to drill 10 to 12 wells every year in the next 10 years," Raza told Reuters in an interview on the sidelines of an oil and gas conference in Islamabad.

PPL, which operates Pakistan's largest gas field at Sui, in the troubled south-western province of Balochistan, accounts for 26% of Pakistan's gas production.

Raza said the company's aggressive…

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