KARACHI: Pakistan Petroleum Limited (PPL) has announced that the relevant regulatory authority has granted a Development and Production Lease for the Adhi Field to the Adhi Joint Venture, according to a notice submitted to the Pakistan Stock Exchange (PSX).
The lease covers an area of 212.86 square kilometres located across the Rawalpindi and Chakwal districts of Punjab, enabling the joint venture to continue the development and production of hydrocarbons from one of the country’s key oil and gas assets.
Under the joint venture arrangement, Pakistan Petroleum Limited (PPL) serves as the operator with a 39% working interest, while Oil and Gas Development Company Limited (OGDCL) holds a 50% working interest, making it the largest stakeholder. Pakistan Oilfields Limited (POL) owns the remaining 11% working interest.
The development lease marks an important milestone for the Adhi Joint Venture, providing regulatory approval to further optimize production, support domestic energy supplies, and contribute to Pakistan’s oil and gas sector.
Story by Muhammad Saqib
