By SKM
October 29, 2025
ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved three merger applications filed by Petroleum Exploration (Private) Limited (PEL) for the acquisition of stakes in PKP Kirthar B.V., PKP Exploration II Limited, and PKP Kadanwari Limited from KUFPEC Pakistan Holdings B.V.
The approvals followed a comprehensive Phase-I review under Section 11 of the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016. The CCP concluded that the proposed transactions would not lead to the creation or strengthening of a dominant position in Pakistan’s upstream oil and gas exploration and production sector.
According to the Commission, the combined market share of PEL and the target entities remains insignificant in oil and condensate production, and the deal primarily represents a change in shareholding structure rather than a substantive shift in market concentration or competitive behavior.
The CCP noted that the acquisition would likely enhance operational efficiency, bolster resource development, and support sustained domestic energy production without distorting competition in the market.
Accordingly, the Commission authorized the transactions under Section 31(1)(d)(i) of the Competition Act, 2010. Ends
