CCP approves PEL’s acquisition of stakes in PKP Group companies
MG News | October 29, 2025 at 04:55 PM GMT+05:00
October 29, 2025 (MLN): The Competition Commission of Pakistan (CCP) has approved three separate
merger applications submitted by Petroleum Exploration (Private) Limited (PEL)
for the acquisition of certain shareholdings in PKP Kirthar B.V., PKP
Exploration II Limited, and PKP Kadanwari Limited from KUFPEC Pakistan Holdings
B.V.
The approvals were
granted after a comprehensive Phase-I review under Section 11 of the
Competition Act, 2010, read with the Competition (Merger Control) Regulations,
2016, said a press release issued.
The CCP determined
that the proposed transactions are not likely to result in the creation or
strengthening of a dominant position in the upstream oil and gas exploration
and production market of Pakistan.
Furthermore, CCP’s assessment
found that the combined market share of PEL and the acquired entities remains
minimal in oil and condensate production.
The transactions
primarily constitute a change in shareholding structure rather than any
substantive alteration in market structure or competitive dynamics.
The acquisition is
expected to enhance operational efficiency, support resource development, and
contribute to sustained domestic energy production without adversely affecting
market competition.
Accordingly, the CCP
has authorized each transaction under Section 31(1)(d)(i) of the Competition
Act, 2010.
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