Pakistan Petroleum Limited (PPL) has received regulatory approval for a 12 year Development and Production Lease over the Adhi oil and gas field, paving the way for continued production and development at one of the country’s key hydrocarbon assets.
According to a notice submitted to the Pakistan Stock Exchange, the lease covers an area of 212.86 square kilometers spanning the districts of Rawalpindi and Chakwal in Punjab.
The lease has been granted for a period of 12 years with effect from November 13, 2024, under Rule 30 A of the Pakistan Onshore Petroleum (Exploration and Production) Rules, 2013.
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The Adhi Joint Venture is operated by PPL, which holds a 39 percent working interest. Oil and Gas Development Company Limited (OGDCL) owns a 50 percent working interest, while Pakistan Oilfields Limited (POL) holds the remaining 11 percent.
The Adhi field is one of Pakistan’s largest and oldest producing oil and gas fields, supplying crude oil, natural gas, and liquefied petroleum gas (LPG). The lease approval allows the joint venture partners to continue production activities and invest in further development to maximize hydrocarbon recovery from the field.
PPL said the disclosure was made in compliance with the Securities Act, 2015, and the Pakistan Stock Exchange regulations.
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