Pakistan Petroleum Limited Initiates Oil & Gas Production in Punjab's Pothwar Region
The Adhi South-6 well, successfully drilled to a depth of 3,490 meters, has been completed as a producer based on positive log results. Following the tie-in of the well with the plant, it has started production at a rate of 600 barrels per day (bpd) of oil and 0.4 million standard cubic feet per day (MMscfd) of gas at a 32/64” choke.
Karobar
In a significant development, Pakistan Petroleum Limited (PPL), a prominent natural gas supplier in the country, has officially started hydrocarbon production from the Adhi South-6 well, situated in the Pothwar region of Punjab. The Exploration and Production (E&P) company shared this milestone through a notice to the Pakistan Stock Exchange (PSX) on Friday.
PPL operates the Adhi Mining Lease with a 39% working interest, in collaboration with joint venture partners Oil & Gas Development Company Ltd (OGDCL) and Pakistan Oilfield Ltd (POL), holding working interests of 50% and 11%, respectively.
Expressing their commitment to increasing oil and gas production, PPL stated,
"We are pleased to disclose encouraging development about the commencement of production from Adhi South-6, a new development well drilled in Adhi Mining Lease."
The Adhi Mining Lease, with exploration starting in 1956, serves major clients such as Sui Northern Gas Pipelines Limited (SNGPL) for gas, Attock Refinery Limited for LNG/crude oil, and various LPG marketing companies.
Notably, on Monday, PPL announced another breakthrough – the discovery of hydrocarbon reserves in the Shah Bandar Block, located in the district of Sujawal, Sindh. This marks the second discovery of hydrocarbon reserves in the Shah Bandar Block.
Despite economic challenges, PPL reported a significant surge of nearly 79% in its profit-after-tax (PAT), reaching Rs97.22 billion for the fiscal year ending June 30, 2023. In comparison, the exploration and production company recorded a PAT of Rs54.35 billion in the same period last year.
