Islamabad:Pakistan Petroleum Limited (PPL), a leading exploration company, has announced the commencement of hydrocarbon production from a new well located in the Pothohar region of Punjab. This initiative is expected to yield approximately 550 barrels of oil per day and 0.8 million cubic feet of gas.
PPL informed the Pakistan Stock Exchange (PSX) on Thursday about this significant development, highlighting that Adhi South 8 contains a 18% share for PPL, 50% for OGDC (Oil and Gas Development Company Limited), and 11% for Pakistan Oilfields Limited (POL).
According to the statement, drilling to a depth of 3,460 meters was conducted at Adhi South 8, with production set to enhance energy independence and reduce reliance on foreign exchange for energy imports.
It’s worth noting that earlier this year, PPL had announced the discovery of gas from Tour-1 well in Latif Block, Khairpur district of Sindh. Last year, PPL had initiated hydrocarbon production from Adhi South 6 wells.
