PPL Reports Big Increase in Production of Natural Gas, Oil, LPG

Pakistan Petroleum Limited (PSX: PPL) today announced a big increase in hydrocarbon production and committed to the country’s energy security by maintaining this trend. “Recognizing the natural decline of its mature producing fields, the Company has strategically implemented multiple cost-efficient production enhancement initiatives, including rigless interventions, surface system optimization, and workovers—delivering significant results at a fraction of the cost of drilling new wells,” the stock filing stated. From April to November 2024, these efforts have yielded substantial production gains, including approximately 17 MMscfd of natural gas, 400 barrels per day of oil/condensate, and 4 tonnes per day of LPG. Key milestones achieved through the above-mentioned efforts include: Optimization through Workovers: Enhanced 8.4 MMscfd gas output through successful workovers on Sui-71 and Sui-73. Surface Debottlenecking: Achieved an increase of 7.1 MMscfd gas production from the Sui and Gambat South Gas Fields by optimizing wellhead surface fittings and plant processing systems. Artificial Lift System Enhancements: Delivered ~200 barrels per day of oil/condensate, 2 tonnes per day of LPG, and 0.5 MMscfd gas through the installation and modification of artificial lift systems at Adhi-28, Adhi-29, and Adhi South-5. Acid Wash and Wellbore Cleanout: Boosted production by ~200 barrels per day of oil/condensate, ~2 tonnes per day of LPG, and 1.3 MMscfd gas via acid wash treatments and scale removal at Adhi, Hala, and Sui Fields. These initiatives underscore the Company’s commitment to cost-effectively enhancing indigenous hydrocarbon production, contributing meaningfully to bridging the energy demand-supply gap and conserving foreign exchange for the nation, the filing concluded.