Pakistan Petroleum Limited celebrates 75 years of energy leadership, global expansion

A leading player in Pakistan’s energy industry, PPL recently celebrated its platinum jubilee, marking 75 years of ensuring the nation’s energy security. Now the company is entering a new phase, built on diversification and international expansion.

The energy giant operates 18 producing fields and holds interests in 28 fields through joint ventures. PPL’s exploration portfolio covers 59 blocks, including Offshore Block 5 in Abu Dhabi, awarded to PPL-led consortium Pakistan International Oil Limited, working in collaboration with ADNOC Offshore. In addition, PPL has a joint venture in Yemen for an onshore Block 3, through its subsidiary PPL Europe E&P Limited.

Since 1974, PPL has also operated Bolan Mining Enterprises – a first for any E&P company in Pakistan. PPL holds interests in baryte, lead and zinc mining, as well as the Reko Diq copper-gold project – one of the world’s largest mines of its kind. Here, Managing Director and CEO Mohammad Khalid Rehman outlines how these initiatives provide the basis for long-term growth.

What is your strategic vision for PPL?

My vision is to transition PPL into a modern, resilient and diversified energy and minerals enterprise that continues to play a central role in Pakistan’s long-term energy security. We aim to aggressively expand and replace reserves through a disciplined and technology-driven exploration programme; diversify into strategic mineral resources and new energy areas to create multiple revenue streams; strengthen systems, processes and governance to accelerate decision-making, enhance efficiency and attract high-calibre talent, while embedding global standards to drive technical excellence. This transformation is anchored in value creation, sustainability and an organisational culture that is agile and future ready.

PPL’s 75-year history stands as a testament to our operational resilience, technical proficiency and strong governance. We want international investors to view PPL as a credible, stable and forward-looking partner that consistently delivers results. Our presence in the UAE through our joint venture in Offshore Block 5 demonstrates our ability to operate in world-class regulatory and technical environments and provides us with a platform to engage directly with international investors, share our track record and learn from global best practices. Our goal is to position PPL as a trusted regional partner committed to transparency, performance and long-term value creation.

PPL remains a leading upstream operator, maintaining a diversified portfolio of operated and partner-operated assets. Our strategy centres on enhancing reserves through both near-term development drilling and long-term frontier exploration. We are expanding into high-potential regions – including offshore Pakistan, unconventional resources and new frontier basins – to ensure supply sustainability. Simultaneously, we are broadening our minerals footprint, which is now an integral part of our long-term portfolio diversification strategy. The focus on hydrocarbons and diversification into minerals strengthens PPL's position as a balanced and future-focused national resource company.

Our performance has been driven by stable production, operational optimisation, disciplined capex deployment and a robust exploration programme. New discoveries and early commissioning of wells have contributed to enhanced output. To sustain growth, we are focused on maximising recovery from existing fields, maintaining prudent cost discipline while prioritising high-impact investments, expanding joint ventures and international collaborations that diversify risk and venturing into minerals and new energy domains. Our recent partnership with TPAO and other international stakeholders reflects growing confidence in Pakistan’s upstream sector and PPL’s strategic direction.

Working with ADNOC and the UAE energy ecosystem has been extremely valuable, offering exposure to world-class offshore E&P project management, technical standards and governance frameworks. The joint venture has accelerated our learning curve in offshore and deepwater operations, strengthening our capabilities and enhancing trust with UAE investors.

We see strong potential for two-way investment flows with UAE entities exploring opportunities in Pakistan’s tight gas, mining and offshore blocks, and PPL and Pakistani companies participating in UAE-led ventures. With robust government support on both sides, we are optimistic about deepening UAE–Pakistan cooperation in energy and minerals.

Key milestones include the discovery and sustained development of Sui – one of South Asia’s most significant gas fields – along with major discoveries such as Kandhkot and the recent Dhok Sultan Field. The company’s involvement in mining since 1974 positioned it as the first E&P company in Pakistan to diversify into minerals. Moreover, PPL’s recent international venture in Abu Dhabi has marked a new chapter in its global expansion. Looking ahead, we are prioritising exploration in deeper horizons across existing fields, accelerating mineral development, including Reko Diq, and embedding ESG and digital transformation.

Minerals have been a core pillar of our diversification strategy. We are expanding our presence in lead, zinc and baryte, which support both the oil and gas and electronics sectors and generate strong returns along with valuable operational experience. Our participation in Reko Diq, a globally significant copper-gold project, positions PPL to contribute meaningfully to the international minerals supply chain. We are also evaluating opportunities in green energy, with feasibility studies underway. As global energy systems evolve, our aim is to build a stable and diversified revenue base through minerals and new energy solutions, supported by partnerships with the UAE and other international players.

This is an opportune moment for UAE investors to engage with Pakistan. The government is committed to creating a stable, investor-friendly environment through structural and sectoral reforms, fiscal discipline and enhanced security. Pakistan offers significant untapped potential in offshore exploration, tight gas and minerals, supported by a sizeable young, skilled workforce and a large domestic market. Strong historical ties further reinforce the opportunity for UAE partnerships. Recent investor engagements in Islamabad and the new bidding round for offshore blocks underscore the momentum. Pakistan is open for business and the investment potential for UAE stakeholders is substantial.

Spanning more than three decades, my career has shaped a leadership philosophy rooted in strategic clarity, operational excellence and human resource development, with a strong belief in innovation, disciplined execution and robust governance. I strongly support international standards in safety, quality and performance, empowering teams and fostering a culture of accountability and integrating international best practices, adapted to local requirements. Leading PPL is both a professional responsibility and a national duty and I remain committed to guiding the company towards a more sustainable and globally competitive future.