Ghazanfar Zafar, Pakistani Calgarian whose drilling his way into KPK, Pakistan1,039 views
“Look for those highly undervalued assets – Ghazanfar Zafar”
Over a month ago I came across one individual who represents a company that is one of the fewest companies that is going into Pakistan’s most highly enriched oil fields and turning them into profits.
Ghazanfar Zafar is a Petroleum Engineer and Co-Founder of Tallahassee Resources Inc. Ghazanfar represents a company that currently is doing projects in British Columbia, Alberta, as well as an exploration project in the KPK region of northern Pakistan, where 50% of Pakistan’s oil production lies.
I recently sat down for an interview with Mr. Zafar and found out more about him and the company which he co-founded. Mr. Zafar has always been interested in becoming an engineer at a young age since seeing his father being an engineer.
When comparing Pakistan’s oil production to Canada’s, there is a big difference. For Pakistan, there are drilling 100 wells a year where as in Alberta they are drilling on average over 15,000 wells per year and over in the U.S, it’s 45,000 wells per year. Mr. Zafar again and again pressed on the fact that it’s not a matter of technology, but rather application and experience.
When I asked why he wanted to get involved in Pakistan, he answered:
Opportunity. Our model is look for those highly undervalued assets and we felt that Pakistan is one of those hidden gems. It’s been hit with all sorts of catastrophes as well as what I like to call artificial issues such as terrorism and other things. But as for the country itself is concern it has one of the best economic returns you can get in the world.
Ghazanfar and his team are known to buy oil at low during crisis times and then optimize, after that sell them when times are good for profit. He has his main headquarters based here in Calgary along with an office in Islamabad including a team onsite doing all the work there in KPK.
Some people might think that coming in as a foreign entity in Pakistan might be challenging as a political stand point, but Ghazanfar stated the exact opposite,
“the challenges are more technical than political, it’s a complicated geology, highly complicated drilling associated with that, but with that we come in with our expertise having the similar type of work in Canada and we intend to bring the similar type of resources and technologies and apply it out there”
As any oil and gas company, Tallahassee is no different, their work in Pakistan consists of geology and seismic work and proving where they need to grow in that location.
Speaking on these matters one can only think, what kind of benefit does this all have for Pakistan or more specifically the KPK region. Mr. Zafar hopes that since his company being there he can inspire others and also unlock some doors for other foreign entities and investments to start looking into doing oil and gas business within Pakistan.
Mr. Zafar hopes that the next step for his company is continuing their work in KPK and also exploring into shale oil and gas within other areas in Pakistan.
For more information about Tallahassee and their work, click here.