PPL gets approval for 12-year development lease over Adhi Field
Lease covers 212.86 sq km in Rawalpindi and Chakwal; Adhi JV includes PPL as operator with 39% working interest, OGDCL 50% and POL 11%
Pakistan Petroleum Limited has received regulatory approval for the grant of a Development and Production Lease over Adhi Field for a period of 12 years, according to a notice submitted to the Pakistan Stock Exchange on Wednesday.
The lease covers an area of 212.86 square kilometres located in the districts of Rawalpindi and Chakwal in Punjab.
PPL said the lease has been granted to the Adhi Joint Venture, which comprises Pakistan Petroleum Limited as operator with a 39% working interest, Oil and Gas Development Company Limited with 50% working interest and Pakistan Oilfields Limited with 11% working interest.
The lease is effective from November 13, 2024.
According to the company, the approval has been granted in accordance with Rule 30-A of the Pakistan Onshore Petroleum (Exploration and Production) Rules, 2013, on prescribed terms and conditions.
Pakistan Petroleum Limited was incorporated in 1950 with the main objectives of conducting exploration, prospecting, development and production of oil and natural gas resources.
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