Last Updated on Tuesday, 30 November 1999 05:00 Monday, 29 August 2011 10:14
KARACHI (APP) – New Horizon Exploration & Production Limited (NHEPL) has signed a production sharing agreement with a Tajikistan based company to develop their Sulduzy Field located in the Tajik-Afghan Basin in southern part of Tajikistan.
NHEPL is a KASB Group company with its head office in Karachi. Sulduzy Field is owned and operated by Hassan & Company.
Wamiq Bokhari, Chairman and CEO of NHEPL said that Sulduzy field was discovered just prior to the break-up of the Soviet Union and was never developed to its full potential. He said that NHEPL would utilize its technical expertise and make needed investments to fully develop the field.
A totalre drilled in the field. Some wells in the field tested good volumes of oil but have never been completed to produce. NHEPL will earn 50 percent of the incremental production as per the agreement and hopes to open an office in the near future in Dushanbe and place some of its staff in the field.
On this occasion, Mr. Suo Lang Duo Ji (Li Yan), a prominent Chinese businessman and Chairman of KASB Bank also visited the Sulduzy field along with Nasir Bukhari and Arif Bukhari of the KASB Group.
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