Petroleum Minister distributes BESOS certificates at PPL’s Adhi Field

Federal Minister for Petroleum and Natural Resources Dr. Asim Hussain gives a Benazir Employees Stock Option Scheme (BESOS) unit certificate to a worker at a ceremony organized at Pakistan Petroleum Limited (PPL) Adhi Field to distribute BESOS certificate

Petroleum Minister distributes BESOS certificates at PPL’sAdhi Field

ADHI, DECEMBER 29, 2011: Federal Minister for Petroleum and Natural Resources (MPNR) Dr. Asim Hussain distributed Benazir Employees Stock Option Scheme (BESOS) certificates among employees at Pakistan Petroleum Limited’s (PPL) Adhi Field (AF) on December 29, 2011.

Besides Dr. Hussain, the event was attended by Member National Assembly Raja Parvez Ashraf, Speaker, Khyber Pakhtunkhwa Assembly Karamatullah Khan Chagermatti as well as local representatives and media. On the company’s behalf, Chairman PPL Board Hidayatullah Pirzada, Director General Petroleum Concessions Sher Mohammad Khan, who is also a PPL director, and Managing Director (MD) and Chief Executive Officer (CEO) Asim Murtaza Khan were present at the event.

On arrival at the field, the minister toured AF’s Liquid Petroleum Gas/Natural Gas Liquid/Gas Plant II, following a brief presentation on its key features. He was accompanied by PPL’s management, directors and key field staff.

In his welcome address, Khan highlighted PPL’s efforts to accelerate exploration activities to maximize production and reserves replacement. In this context, he explained that the changing behaviour of the reservoir and fluid composition posed serious challenges in reaching optimum production levels at Plant II, which had finally been overcome due to Dr. Hussain’s guidance and involvement in the matter. The minister’s visit to the facility, he pointed out, was therefore all the more opportune.

Speaking on the occasion, Ashraf welcomed the minister to the area and requested him to expedite welfare and development projects for local communities.

This was followed by the distribution of BESOS shares among field staff. Dr. Hussain highlighted the technical problems in reaching optimum production targets in Plant II. “Given the current energy crisis, I immediately advised PPL’s management that all technical bottlenecks should be removed as soon as possible. I am happy to note that the plant is now functioning at full production capacity.” He added that AF’s Plant II was one of the best facilities of its kind, comparable to any across the globe.

Dr. Hussain exhorted company management and staff to fast track its core business programme to optimize production and reserves replacement. Now that BESOS has transferred company ownership to workers, he went on to say, equal dedication was expected from them to help forward the company’s business programme.

Around 70 kilometers south of Islamabad, AF is a joint venture with PPL as operator and Oil and Gas Development Company Limited and Pakistan Oilfields Limited as joint venture partners. Daily average production from AF is around 39 MMscfd gas, 1800 barrels per day NGL, 3800 bbl oil and 125 tonnes LPG. Currently, 9 wells are on production at AF from Tobra-Khewra Reservoir and two from the Sakesar Formation.