wiki.Alumni.NET - Your Location Information Resource
Asia/Pakistan/Sindh/Karachi/Pakistan Petroleum Limited/
From wiki.Alumni.NET
Contents |
Pakistan Petroleum Limited
- Location & Contact Information
- Address, Directions, & Map
- PIDC House, Dr. Ziauddin Ahmed Road, Karachi, Sindh, Pakistan
- GPS Coordinates
- Telephone Numbers:
- +92 21 5651480-89
- +92 21 5680005, +92 21 5652125 (fax)
- Official Website: [1]
- Address, Directions, & Map
- Overview & Photographs
Pakistan Petroleum Limited is a Pakistan based company, it was incorporated June 5, 1950, when it inherited the assets and liabilities of the Burmah Oil Company Ltd. which initially holds 70% of the share with the rest mostly held by the Government of Pakistan (GoP). Currently, GoP hold 78.35% of the shares, International Finance Corporation (6.09%) and institutional and individual investors (15.56%). [1]
The company is headquartered in Karachi and the MD and CEO is [Mr. Khalid Rahman]. [1]
Pakistan Petroleum Ltd is one Pakistan's leading E&P company, the oldest and largest Exploration and Production Company in the country was incorporated on 5th June 1950 subsequent to the promulgation of the Pakistan Petroleum Production Rules, 1949 with the main objective of conducting exploration, development and production of Pakistan's oil and natural gas resources. PPL inherited all the assets and liabilities of the Burmah Oil Company (Pakistan Concessions) Limited and commenced business on 1st July 1952. [1]
PPL and its ex-parent Burmah Oil Company have been active in the subcontinent since the early part of the 20th century. A total of 239 wells including 65 exploratory and 174 appraisal / development wells have so far been drilled which resulted in the discovery of about 19.90 Tcf gas (both operated and non-operated leases). A gas condensate/oil field at Adhi with original recoverable reserves of 1,253 MT liquefied Petroleum Gas and 39.4 MMbbl of oil/condensate was also discovered by PPL. [1]
The Company also operates a Baryte mine in Balochistan province. It produces oil well drilling grade Baryte powder from the mine, which has proven reserves of 1.25 million tones. For the year 2004-05, PPL's share of average production from its operated and non-operated fields was 953 MMcfd of gas, 1,372 bpd of oil/NGL and 26 tones per day of LPG. Production of gas from these fields meets about 25.1% of the country's indigenous production. The gas, LPG and NGL production from PPL operated and non-operated fields for the year 2004-05 in terms of oil equivalent, was about 171,205 barrels of crude oil per day. [1]
The Company has a staff of about 2520 as at 31 May, 2006 employees with about 431 qualified technical staff in the fields of engineering, computer and earth sciences. PPL has well established IT department and all staff in the Head Office has access to computers and are interconnected through Local Area Network (LAN). The Wide Area Network (WAN) has also been established connecting PPL's three major producing fields and Regional Office in Islamabad with the Head Office at Karachi. The Company has implemented SAP in 2004 integrating core business processes using Costing, Finance, Human Resources, Materails Managemnet, Plant maintenance and Project Systems modules. [1]
The Government of Pakistan (GoP) in September 1997 purchased the entire equity interest of Burmah Castrol PLC, formerly Burmah Oil Company, in the Company (comprising 21 million ordinary shares of Rs.10 each) representing 63.91 percent of the Share Capital thereby increasing its holding in the Company to 93.35 percent. Subsequent to June 2004, the GoP has disinvested a portion of its equity in the Company equivalent to 15% of the paid up share capital of (i.e. 102.873 million shares of Rs.10 each) through an Initial Public Offering (IPO). The GoP has made a policy decision to privatize PPL and IPO is a significant step towards this direction. [1]
A consortium led by Merrill Lynch International and KASB securities (Pvt) Limited have been appointed by the Privatization Commission (PC) as the Financial Advisor (FA) for the strategic sale of GoP's 51 % interest in the company. Five (5) parties were prequalified as potential bidders for the transaction. The Government of Pakistan continues to pursue the privatization process through sale of its majority interest in the Company to a strategic investor and remains committed to proceed with the transaction with a view to concluding the process at an early date. [1]
The company operates major oil and gas fields including Sui gas field and has non-operating interests in other fields and has an interest in an exploration portfolio onshore and offshore. The company is now planning international exploration in partnership mode. [1]
Prospective Employees
- Job Listing
Current Employees
Former Employees (Alumni)
- Alumni Directory
- Networking
Visitors
- Hotels Nearby
- Restaurant Recommendations
External Links
References
