Mr. Ibrar Khan, Secretary General PPEPCA was invited as the Chief Guest at NUST, where they addressed students and faculty on industry-academia collaboration, and future opportunities for young professionals

May 13, 2026 (MLN): Pakistan Petroleum Limited (PSX:PPL) has completed workover operations for the sidetracking of Well Adhi South-2 in the Adhi Field, achieving a significant turnaround for a well that had been out of production. The company holds a 39% Working Interest in the field alongside Joint Venture partners Oil and Gas Development Company Limited (OGDCL) with 50% and Pakistan Oilfields Limited (POL) with 11%. Originally drilled as an appraisal well in 2020, Adhi South-2 initially tested at approximately 800 barrels per day (bpd) of oil before its output gradually declined to around 200 bpd. A hydraulic fracturing attempt carried out in 2023-24 failed to revive the well, as high water cut caused it to cease flowing post-fracturing. Multiple rig-less intervention efforts, including gas-lift (CTGL), were also unsuccessful in restoring production. The Adhi Joint Venture subsequently opted to sidetrack the well to bypass the water-bearing zone. The operation wrapped up in just 28 days well ahead of the planned 48-day schedule. Post rig-release testing has placed the well's production at approximately 850 bpd of oil and around 1 MMscfd of gas. The successful sidetrack is expected to lift current production levels at the Adhi Field and builds confidence in applying similar remediation strategies to other underperforming wells across the field. The aforementioned information was disseminated through a notification to Exchange.

ISLAMABAD: Pakistan Petroleum Exploration & Production Companies Association (PPEPCA) welcomed the federal government’s decision of downward revision of captive gas levy. While talking to Business Recorder, Secretary General PPEPCA Ibrar Khan said till May the Captive Power Plant levy stood at Rs1,303 per mmBtu, anchored to the peak B3 industrial electricity tariff under a methodology that had ceased to function as a price signal. In practice, it had become a structural penalty on industrial gas consumption — pricing efficient plants out of operation, hollowing out gas demand, and pushing Sui company losses past Rs104 billion in the first half of the fiscal year alone. READ ALSO: Correcting the captive gas levy Following Petroleum Minister’s formal proposal during the IMF’s third review, the methodology has been recalibrated to a weighted average of peak and off-peak B3 rates. The revised levy now stands at approximately Rs522 per mmBtu — a near sixty percent reduction in a single move, with relief expected to hold across cycles in the 30 to 60 percent range. For Pakistan’s gas exploration and production sector, he said that the previous levy was actively lengthening the circular debt cycle. Industrial demand was being driven off the gas network, indigenous production was losing its paying off-taker, RLNG was being diverted to subsidised consumption, and Sui losses were aging into receivables on E&P balance sheets. He said, “For more than two years, captive consumers — particularly in textiles, the country’s largest export sector — had been operating at gas prices that priced them out of regional markets”. Indian, Bangladeshi, and Chinese competitors were accessing gas at $6–9 per mmBtu, while Pakistani exporters faced effective costs well above that. Captive offtake fell sharply, RLNG surpluses grew, and an $18 billion textile export base came under sustained pressure, he added. On behalf of PEPPCA, Pakistan’s gas exploration and production companies, he said, “we extend our genuine and considered appreciation to the Honourable Federal Minister for Petroleum, Ali Pervaiz Malik. His advocacy was patient where it needed to be patient, decisive where decisiveness was required, and unfailingly grounded in evidence. Reform of this scale is never a solo achievement, and the professional teams at the Petroleum Division, the Finance Division, and the regulators deserve recognition for the technical groundwork that supported the case”.