Pakistani company to develop oil field in Tajikistan

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 breakup of the Soviet Union and was never developed to its full potential. He said that NHEPL will utilize its technical expertise and make needed investments to fully develop the field. A total of 19 wells were 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% 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.