Islamabad: Pakistan Petroleum Limited (PPL) has officially announced the commencement of production from its new development well, Adhi South-8, situated within the Adhi Mining Lease. This development marks a significant step in the company's ongoing efforts to bolster the domestic production of oil and gas.

The Adhi South-8 well was strategically drilled to a depth of 3,460 meters and has now been integrated into production systems following promising logging results. The well, in collaboration with Joint Venture partners Oil and Gas Development Company Limited (OGDCL) and Pakistan Oilfield Limited (POL), which hold 50% and 11% working interests respectively, is now operational. PPL holds a 39% working interest in the venture.

According to information available from the Pakistan Stock Exchange (PSX), the well began producing at a rate of 550 barrels per day (bpd) of oil and 760.00 million standard cubic feet per day (MMscfd) of gas, with settings adjusted to a 36/64" choke. This production rate is set to play a crucial role in addressing the ongoing energy demand-supply imbalance in the country, while also providing significant savings in foreign exchange.

The initiation of operations at Adhi South-8 is not just a technical achievement but also a compliance measure under Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations. This milestone is expected to further strengthen PPL’s commitment to enhancing the energy security of Pakistan through the development of indigenous resources.