Pakistan Petroleum Limited (PPL) has successfully commenced production of oil and gas from Adhi South-8 drilled in the Adhi Mining Lease.
PPL informed the Pakistan Stock Exchange (PSX) about this development through a notice on Thursday.
The Adhi Mining Lease is operated by the PPL with a 39% working interest along with its Joint Venture partners, Oil & Gas Development Company Limited (OGDCL) and Pakistan Oilfield Limited (POL) with working interests of 50% and 11% respectively.
Adhi South-8 was successfully drilled to a depth of 3,460 meters and completed as a producer based on encouraging log results. After the tie-in of the well with the plant, production from the well commenced at the rate of 550 barrels per day (bpd) of oil and 0.8 million standard cubic feet per day (MMscfd) of gas at 36/64” choke.
The company said that this additional indigenous hydrocarbon production will contribute to reducing the energy demand and supply gap and save significant foreign exchange for the country.
