The Competition Commission of Pakistan (CCP) has given the green light to Petroleum Exploration (Private) Limited (PEL) for acquiring stakes in three PKP Group companies PKP Kirthar B.V., PKP Exploration II Limited, and PKP Kadanwari Limited from KUFPEC Pakistan Holdings B.V.
According to the CCP, the approval followed a detailed Phase-I review under the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016. The regulator concluded that the acquisitions would not lead to the creation or strengthening of any dominant market position in Pakistan’s upstream oil and gas sector.
“The transactions mainly represent a shift in shareholding structure rather than altering market competition,” said the CCP in a statement, adding that the combined market share of PEL and the acquired entities remains limited in oil and condensate production.
This acquisition is expected to boost operational efficiency, strengthen domestic energy exploration, and contribute to sustainable production without affecting fair market competition.