Pakistan Petroleum Limited (PPL) has commenced oil and gas production from Adhi South-9, a new development well drilled in the Adhi Mining Lease.
The oil and gas exploration and production company shared this development with the Pakistan Stock Exchange (PSX) through a notice on Monday in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Regulations.
Adhi South-9 is operated by the PPL with 39% working interest along with its joint venture partners, Oil & Gas Development Company Limited (OGDCL) and Pakistan Oilfields Limited (POL) with working interests of 50% and 11%, respectively.
“We are pleased to disclose that as part of our continuous efforts towards increasing production of oil and gas, production has commenced from Adhi South-9, a new development well drilled in Adhi Mining Lease which is operated by the Company with 39% working interest along with its Joint Venture partners, Oil & Gas Development Company Limited (OGDCL) and Pakistan Oilfields Limited (POL) with working interests of 50% and 11%, respectively,” read the PPL’s notice.
Adhi South-9 was successfully drilled to a depth of 3,430 meters and completed as a producer based on encouraging log results.
Subsequent to the well’s tie-in with the plant, production from the well has commenced at the rate of 530 Barrels per Day (bpd) of oil and 0.6 Million Standard Cubic Feet per Day (MMscfd) of gas.
